Bristol-Myers Squibb Company (NYSE:BMY) Rating Reiterated by Jefferies Group LLC
Bristol-Myers Squibb Company (NYSE:BMY)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research note issued on Wednesday, July 12th. They currently have a $63.00 target price on the biopharmaceutical company’s stock. Jefferies Group LLC’s price target indicates a potential upside of 12.60% from the company’s current price. Jefferies Group also issued estimates for Bristol-Myers Squibb’s FY2017 earnings at $2.95 EPS, FY2018 earnings at $3.13 EPS, FY2019 earnings at $3.91 EPS, FY2020 earnings at $4.50 EPS and FY2021 earnings at $5.14 EPS.
A number of other brokerages have also weighed in on BMY. BidaskClub raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. BMO Capital Markets lowered Bristol-Myers Squibb from a “market perform” rating to an “underperform” rating and set a $47.00 target price for the company. in a research report on Wednesday, May 3rd. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $60.09 price target for the company in a research report on Wednesday, April 5th. Robert W. Baird began coverage on Bristol-Myers Squibb in a research report on Tuesday, April 25th. They issued an “outperform” rating for the company. Finally, William Blair reissued an “outperform” rating on shares of Bristol-Myers Squibb in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $63.33.
Bristol-Myers Squibb (NYSE BMY) traded up 0.81% during trading on Wednesday, hitting $55.95. 4,161,468 shares of the company traded hands. The stock has a 50 day moving average price of $55.55 and a 200 day moving average price of $54.50. The company has a market capitalization of $91.75 billion, a P/E ratio of 20.43 and a beta of 1.17. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $64.77. Bristol-Myers Squibb also was the recipient of unusually large options trading on Thursday. Investors bought 781 put options on the company. This represents an increase of approximately 117% compared to the typical volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the business earned $0.69 EPS. Bristol-Myers Squibb’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb will post $2.97 earnings per share for the current year.
In other news, Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average price of $55.94 per share, with a total value of $335,640.00. Following the completion of the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at $1,006,920. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Dodge & Cox acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $1,316,815,000. Norges Bank acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $770,318,000. Ameriprise Financial Inc. raised its position in shares of Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after buying an additional 2,451,390 shares during the last quarter. Swiss National Bank raised its position in shares of Bristol-Myers Squibb by 27.2% in the first quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock valued at $322,020,000 after buying an additional 1,267,900 shares during the last quarter. Finally, State Street Corp raised its position in shares of Bristol-Myers Squibb by 1.8% in the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after buying an additional 1,223,457 shares during the last quarter. Institutional investors own 69.56% of the company’s stock.
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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