Bristol-Myers Squibb Co. (BMY) Receives Hold Rating from SunTrust Banks Inc.
SunTrust Banks Inc. reaffirmed their hold rating on shares of Bristol-Myers Squibb Co. (NYSE:BMY) in a report issued on Monday morning. SunTrust Banks Inc. currently has a $62.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $68.00.
“Our ’17E EPS decreases to $3.02 (from $3.29) vs. Street’s $3.00. We lowered our PT to $62 (from $68) & maintained our Hold rating. Our $62PT is based on 20x our ’17E EPS. BMY needs positive expressers arm of CM-227 to stop in 2017 for it to execute on its IO-IO combo strategy.”On October 9, Bristol-Myer disclosed in a statement, “Two pivotal Phase 3 studies, CheckMate -057 and CheckMate -017, which showed more than one-third of previously treated metastatic non-small cell lung cancer (NSCLC) patients in both trials experienced ongoing responses with Opdivo, compared to no ongoing responses in the docetaxel arm.,” SunTrust Banks Inc.’s analyst commented.
Several other research analysts also recently issued reports on the company. Credit Suisse Group AG downgraded Bristol-Myers Squibb from an outperform rating to a neutral rating and cut their price objective for the stock from $86.00 to $63.00 in a research report on Sunday, August 7th. Morgan Stanley restated a hold rating on shares of Bristol-Myers Squibb in a research report on Thursday, August 25th. Leerink Swann restated a buy rating and set a $69.00 price objective on shares of Bristol-Myers Squibb in a research report on Sunday. Jefferies Group restated a hold rating and set a $57.00 price objective (down from $69.00) on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Finally, Goldman Sachs Group Inc. reiterated a buy rating and issued a $75.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, September 27th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb has an average rating of Hold and a consensus price target of $69.31.
Bristol-Myers Squibb (NYSE:BMY) traded up 0.14% on Monday, reaching $49.88. The company had a trading volume of 5,621,428 shares. The stock’s 50-day moving average price is $56.14 and its 200 day moving average price is $66.76. Bristol-Myers Squibb has a 52-week low of $49.51 and a 52-week high of $77.12. The firm has a market capitalization of $83.34 billion, a price-to-earnings ratio of 29.17 and a beta of 0.75.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the previous year, the firm posted $0.53 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb will post $2.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is 87.36%.
In related news, Director Lamberto Andreotti sold 21,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC raised its position in Bristol-Myers Squibb by 26.1% in the third quarter. Advisory Services Network LLC now owns 20,845 shares of the biopharmaceutical company’s stock worth $1,124,000 after buying an additional 4,317 shares in the last quarter. Catawba Capital Management VA increased its stake in Bristol-Myers Squibb by 5.4% in the third quarter. Catawba Capital Management VA now owns 54,206 shares of the biopharmaceutical company’s stock worth $2,923,000 after buying an additional 2,760 shares during the last quarter. Triangle Securities Wealth Management increased its stake in Bristol-Myers Squibb by 79.5% in the third quarter. Triangle Securities Wealth Management now owns 23,854 shares of the biopharmaceutical company’s stock worth $1,286,000 after buying an additional 10,565 shares during the last quarter. Monarch Capital Management Inc. increased its stake in Bristol-Myers Squibb by 2.9% in the third quarter. Monarch Capital Management Inc. now owns 31,669 shares of the biopharmaceutical company’s stock worth $1,708,000 after buying an additional 905 shares during the last quarter. Finally, Private Asset Management Inc. increased its stake in Bristol-Myers Squibb by 6.6% in the third quarter. Private Asset Management Inc. now owns 179,091 shares of the biopharmaceutical company’s stock worth $9,657,000 after buying an additional 11,135 shares during the last quarter. 72.88% of the stock is owned by hedge funds and other institutional investors.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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