TheStreet Upgrades Bristol-Myers Squibb (NYSE:BMY) to “B-“
TheStreet upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a c+ rating to a b- rating in a report published on Wednesday, TheStreetRatingsTable reports.
BMY has been the subject of several other research reports. Bank of America boosted their price target on Bristol-Myers Squibb from $46.00 to $49.00 and gave the company a neutral rating in a report on Tuesday, September 3rd. ValuEngine raised Bristol-Myers Squibb from a strong sell rating to a sell rating in a research note on Monday, August 26th. JPMorgan Chase & Co. set a $62.00 price objective on Bristol-Myers Squibb and gave the stock a buy rating in a research note on Friday, September 13th. UBS Group dropped their price objective on Bristol-Myers Squibb from $55.00 to $51.00 and set a neutral rating for the company in a research note on Thursday, June 13th. Finally, Goldman Sachs Group assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, May 28th. They issued a buy rating and a $54.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Bristol-Myers Squibb presently has an average rating of Hold and an average target price of $55.74.
NYSE:BMY opened at $50.57 on Wednesday. The stock has a 50-day simple moving average of $47.67 and a two-hundred day simple moving average of $47.08. Bristol-Myers Squibb has a 52-week low of $42.48 and a 52-week high of $63.69. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. The firm has a market capitalization of $81.90 billion, a PE ratio of 11.62, a P/E/G ratio of 2.46 and a beta of 0.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.21%.
In other news, Director Robert J. Bertolini bought 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the transaction, the director now owns 11,397 shares of the company’s stock, valued at $509,673.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. Bridger Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $227,000. River & Mercantile Asset Management LLP lifted its position in shares of Bristol-Myers Squibb by 1.3% in the second quarter. River & Mercantile Asset Management LLP now owns 117,531 shares of the biopharmaceutical company’s stock worth $5,327,000 after buying an additional 1,500 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Bristol-Myers Squibb by 2.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 659,597 shares of the biopharmaceutical company’s stock worth $29,913,000 after buying an additional 13,811 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $562,000. Finally, Rehmann Capital Advisory Group lifted its position in shares of Bristol-Myers Squibb by 2.2% in the second quarter. Rehmann Capital Advisory Group now owns 10,209 shares of the biopharmaceutical company’s stock worth $463,000 after buying an additional 224 shares in the last quarter. Institutional investors own 80.16% of the company’s stock.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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