Bristol-Myers Squibb Company (BMY) Given Average Rating of “Hold” by Analysts
Bristol-Myers Squibb Company (NYSE:BMY) has earned a consensus recommendation of “Hold” from the twenty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $62.12.
A number of equities analysts have weighed in on BMY shares. BidaskClub upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. William Blair reiterated an “outperform” rating on shares of Bristol-Myers Squibb in a research report on Monday, June 26th. Cowen and Company set a $65.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 10th. Jefferies Group LLC reiterated a “buy” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. Finally, Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $62.23 target price for the company in a research report on Wednesday, July 12th.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II purchased 6,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of the purchase, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb 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 transaction, the senior vice president now directly owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Several institutional investors have recently modified their holdings of BMY. Renaissance Technologies LLC grew its holdings in shares of Bristol-Myers Squibb by 108.5% in the second quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after purchasing an additional 7,020,200 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Bristol-Myers Squibb by 185.2% in the second quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after purchasing an additional 3,960,191 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Bristol-Myers Squibb by 2,990.5% in the second quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after purchasing an additional 3,516,536 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Bristol-Myers Squibb by 42,071.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after purchasing an additional 3,323,649 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings 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 worth $845,504,000 after purchasing an additional 2,451,390 shares during the last quarter. Hedge funds and other institutional investors own 68.88% of the company’s stock.
Shares of Bristol-Myers Squibb (BMY) traded down 0.85% during mid-day trading on Friday, reaching $63.80. 6,091,778 shares of the company’s stock traded hands. The company has a market cap of $104.63 billion, a P/E ratio of 23.30 and a beta of 1.19. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $64.79. The firm has a 50-day moving average of $61.15 and a 200 day moving average of $56.54. Bristol-Myers Squibb also was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 37,577 call options on the company. This represents an increase of approximately 274% compared to the typical volume of 10,041 call options.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. Equities analysts forecast that Bristol-Myers Squibb will post $2.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 56.73%.
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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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