Bristol-Myers Squibb Co. (BMY) Receives “Conviction-Buy” Rating from Goldman Sachs Group Inc.
Bristol-Myers Squibb Co. (NYSE:BMY)‘s stock had its “conviction-buy” rating reissued by stock analysts at Goldman Sachs Group Inc. in a research note issued on Wednesday. They currently have a $75.00 price objective on the biopharmaceutical company’s stock. Goldman Sachs Group Inc.’s price target indicates a potential upside of 49.97% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. Barclays PLC reissued an “equal weight” rating on shares of Bristol-Myers Squibb in a report on Wednesday. SunTrust Banks Inc. cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $86.00 to $68.00 in a research note on Friday, August 5th. Morgan Stanley cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 price objective on the stock. in a research note on Friday, August 5th. Deutsche Bank AG reissued a “hold” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, June 15th. Finally, Berenberg Bank reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $69.31.
Bristol-Myers Squibb (NYSE:BMY) traded down 0.30% during midday trading on Wednesday, hitting $49.86. The stock had a trading volume of 5,401,601 shares. The firm’s 50-day moving average price is $55.58 and its 200 day moving average price is $66.51. The company has a market cap of $83.31 billion, a P/E ratio of 29.16 and a beta of 0.74. Bristol-Myers Squibb has a 12 month low of $49.12 and a 12 month high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. On average, analysts expect that Bristol-Myers Squibb will post $2.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.04%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction 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 sale, the director now directly owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock valued at $8,057,758,000 after buying an additional 3,595,648 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Bristol-Myers Squibb by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 44,742,184 shares of the biopharmaceutical company’s stock valued at $2,858,131,000 after buying an additional 844,233 shares during the last quarter. Jennison Associates LLC raised its stake in Bristol-Myers Squibb by 4.1% in the second quarter. Jennison Associates LLC now owns 28,064,140 shares of the biopharmaceutical company’s stock valued at $2,064,118,000 after buying an additional 1,099,210 shares during the last quarter. BlackRock Fund Advisors raised its stake in Bristol-Myers Squibb by 2.9% in the second quarter. BlackRock Fund Advisors now owns 23,780,943 shares of the biopharmaceutical company’s stock valued at $1,749,088,000 after buying an additional 659,425 shares during the last quarter. Finally, Janus Capital Management LLC raised its stake in Bristol-Myers Squibb by 5.2% in the second quarter. Janus Capital Management LLC now owns 21,937,539 shares of the biopharmaceutical company’s stock valued at $1,613,481,000 after buying an additional 1,094,167 shares during the last quarter. 72.88% of the stock is currently owned by 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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