Bristol-Myers Squibb Company (BMY) Given New $65.00 Price Target at Barclays PLC
Bristol-Myers Squibb Company (NYSE:BMY) had its target price lifted by analysts at Barclays PLC from $58.00 to $65.00 in a report issued on Friday. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays PLC’s price objective would indicate a potential downside of 0.54% from the stock’s current price.
BMY has been the topic of a number of other research reports. UBS AG reaffirmed a “buy” rating and set a $72.00 target price (up previously from $62.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. Vetr raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $67.92 target price on the stock in a research note on Monday. BMO Capital Markets reaffirmed a “sell” rating and set a $49.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 4th. BidaskClub raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 target price (up previously from $63.00) on shares of Bristol-Myers Squibb in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $63.21.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $5.14 billion for 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 revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS.
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In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 6,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph C. Caldarella sold 9,340 shares of the stock in a transaction dated 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 owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in BMY. Tradewinds Capital Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 34.6% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 500 shares in the last quarter. Atlantic Trust LLC bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $111,000. Welch Investments LLC boosted its holdings in shares of Bristol-Myers Squibb by 3.9% in the 1st quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares in the last quarter. Blue Chip Partners Inc. boosted its holdings in shares of Bristol-Myers Squibb by 0.8% in the 1st quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 29.6% in the 1st quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 504 shares in the last quarter. Institutional investors and hedge funds own 68.87% 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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