Bristol-Myers Squibb (NYSE:BMY) Cut to “Hold” at Societe Generale
Societe Generale cut shares of Bristol-Myers Squibb (NYSE:BMY) from a buy rating to a hold rating in a research report released on Monday morning, 24/7 WallStreet reports. Societe Generale currently has $50.00 price target on the biopharmaceutical company’s stock.
Other equities analysts also recently issued research reports about the stock. William Blair reaffirmed a buy rating on shares of Bristol-Myers Squibb in a report on Friday, February 14th. ValuEngine raised shares of Bristol-Myers Squibb from a strong sell rating to a sell rating in a report on Monday, March 9th. Citigroup raised shares of Bristol-Myers Squibb from a neutral rating to a buy rating and set a $73.00 price objective for the company in a report on Monday, January 6th. Argus raised shares of Bristol-Myers Squibb from a hold rating to a buy rating and set a $80.00 price objective for the company in a report on Friday, December 13th. Finally, Barclays assumed coverage on shares of Bristol-Myers Squibb in a report on Thursday, February 27th. They issued an equal weight rating and a $69.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $62.08.
Shares of NYSE:BMY opened at $51.35 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $60.09 and a 200 day simple moving average of $58.38. The firm has a market cap of $111.16 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 0.96 and a beta of 0.78. Bristol-Myers Squibb has a 12-month low of $42.48 and a 12-month high of $68.34.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 3rd will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.51%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 38.38%.
In other news, EVP John E. Elicker sold 15,805 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $61.01, for a total transaction of $964,263.05. Following the completion of the transaction, the executive vice president now directly owns 58,666 shares in the company, valued at $3,579,212.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of BMY. Anderson Fisher LLC raised its position in shares of Bristol-Myers Squibb by 1.7% during the fourth quarter. Anderson Fisher LLC now owns 24,792 shares of the biopharmaceutical company’s stock worth $1,591,000 after purchasing an additional 417 shares during the period. Earnest Partners LLC raised its position in Bristol-Myers Squibb by 45.4% in the 4th quarter. Earnest Partners LLC now owns 1,147 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 358 shares during the last quarter. Becker Capital Management Inc. acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $220,000. Benin Management CORP raised its position in Bristol-Myers Squibb by 35.4% in the 4th quarter. Benin Management CORP now owns 11,868 shares of the biopharmaceutical company’s stock valued at $762,000 after buying an additional 3,100 shares during the last quarter. Finally, Financial Counselors Inc. raised its position in Bristol-Myers Squibb by 9.0% in the 4th quarter. Financial Counselors Inc. now owns 168,235 shares of the biopharmaceutical company’s stock valued at $10,799,000 after buying an additional 13,916 shares during the last quarter. Institutional investors own 77.88% of the company’s stock.
About Bristol-Myers Squibb
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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