Bristol-Myers Squibb Company (BMY) Given Buy Rating at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of Bristol-Myers Squibb Company (NYSE:BMY) in a research note published on Wednesday morning. Jefferies Group LLC currently has a $72.00 price objective on the biopharmaceutical company’s stock.
Several other equities research analysts also recently commented on BMY. Vetr raised Bristol-Myers Squibb from a hold rating to a buy rating and set a $66.50 target price on the stock in a report on Wednesday. BidaskClub raised Bristol-Myers Squibb from a sell rating to a hold rating in a report on Saturday, August 12th. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Wednesday, August 9th. Cowen and Company reissued a hold rating and issued a $65.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, September 19th. Finally, William Blair reissued an outperform rating on shares of Bristol-Myers Squibb in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. Bristol-Myers Squibb presently has a consensus rating of Hold and an average target price of $62.34.
Shares of Bristol-Myers Squibb (BMY) traded up 0.68% during trading on Wednesday, reaching $63.38. The company’s stock had a trading volume of 2,282,088 shares. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $63.74. The firm has a market cap of $103.94 billion, a P/E ratio of 23.15 and a beta of 1.18. The stock’s 50 day moving average is $58.94 and its 200 day moving average is $56.02.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts forecast that Bristol-Myers Squibb will post $2.98 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 56.73%.
In other Bristol-Myers Squibb news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the completion of the transaction, the senior vice president now owns 46,297 shares in the company, valued at approximately $2,777,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore R. Samuels II purchased 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $55.94 per share, with a total value of $335,640.00. Following the acquisition, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The disclosure for this purchase can be found here. Company insiders own 0.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Perpetual Ltd grew its holdings in Bristol-Myers Squibb by 10.8% during the 2nd quarter. Perpetual Ltd now owns 16,444 shares of the biopharmaceutical company’s stock valued at $916,000 after buying an additional 1,600 shares in the last quarter. Intl Fcstone Inc. bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $386,000. M Holdings Securities Inc. lifted its stake in shares of Bristol-Myers Squibb by 16.5% in the 2nd quarter. M Holdings Securities Inc. now owns 19,234 shares of the biopharmaceutical company’s stock valued at $1,072,000 after purchasing an additional 2,719 shares during the last quarter. Griffin Asset Management Inc. bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $9,504,000. Finally, Aldebaran Financial Inc. bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $767,000. Institutional investors and hedge funds own 68.88% 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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