Bristol-Myers Squibb Company (BMY) Earns “Buy” Rating from UBS AG
UBS AG reiterated their buy rating on shares of Bristol-Myers Squibb Company (NYSE:BMY) in a report released on Friday morning, www.benzinga.com reports. They currently have a $72.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $62.00.
Other equities research analysts have also recently issued reports about the company. BidaskClub upgraded Bristol-Myers Squibb from a hold rating to a buy rating in a research note on Tuesday, June 27th. Jefferies Group LLC restated a buy rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, July 12th. Vetr cut Bristol-Myers Squibb from a strong-buy rating to a buy rating and set a $61.66 target price for the company. in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) restated a buy rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies set a $60.00 target price on Bristol-Myers Squibb and gave the stock a hold rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $62.38.
Bristol-Myers Squibb (BMY) opened at 64.81 on Friday. The firm has a 50-day moving average price of $61.56 and a 200 day moving average price of $56.65. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $65.03. The company has a market cap of $106.28 billion, a P/E ratio of 23.67 and a beta of 1.19.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the 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 firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that Bristol-Myers Squibb will post $2.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders 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 dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is 56.73%.
In related news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction 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 directly owns 46,297 shares of the company’s stock, valued at approximately $2,777,820. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Theodore R. Samuels II bought 6,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were bought at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of the transaction, the director now owns 18,000 shares in the company, valued at $1,006,920. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in BMY. Waldron LP bought a new position in Bristol-Myers Squibb during the 1st quarter worth $475,000. BTR Capital Management Inc. raised its position in Bristol-Myers Squibb by 19.5% during the 1st quarter. BTR Capital Management Inc. now owns 4,603 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 750 shares during the last quarter. Profund Advisors LLC raised its position in Bristol-Myers Squibb by 7.3% during the 1st quarter. Profund Advisors LLC now owns 101,905 shares of the biopharmaceutical company’s stock worth $5,542,000 after purchasing an additional 6,928 shares during the last quarter. ProShare Advisors LLC raised its position in Bristol-Myers Squibb by 2.7% during the 1st quarter. ProShare Advisors LLC now owns 200,665 shares of the biopharmaceutical company’s stock worth $10,912,000 after purchasing an additional 5,272 shares during the last quarter. Finally, Founders Capital Management LLC raised its position in Bristol-Myers Squibb by 0.7% during the 1st quarter. Founders Capital Management LLC now owns 4,097 shares of the biopharmaceutical company’s stock worth $223,000 after purchasing an additional 29 shares during the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.
Bristol-Myers Squibb Company Profile
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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