Bristol Myers Squibb (NYSE:BMY) Now Covered by Analysts at Scotiabank

Scotiabank started coverage on shares of Bristol Myers Squibb (NYSE:BMY) in a research report report published on Thursday, MarketBeat reports. The firm issued a sector perform rating and a $45.00 price target on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Four research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.58.

Bristol Myers Squibb Trading Down 4.0%

BMY stock traded down $1.96 during midday trading on Thursday, reaching $46.67. The company’s stock had a trading volume of 19,771,775 shares, compared to its average volume of 13,833,216. Bristol Myers Squibb has a 1 year low of $42.52 and a 1 year high of $63.33. The firm has a market capitalization of $95.00 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.23 and a beta of 0.33. The stock has a fifty day simple moving average of $45.34 and a two-hundred day simple moving average of $46.70. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, equities research analysts predict that Bristol Myers Squibb will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 83.78%.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the transaction, the executive vice president owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bristol Myers Squibb

A number of large investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC grew its stake in Bristol Myers Squibb by 4,463.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,178,101 shares of the biopharmaceutical company’s stock valued at $52,894,000 after purchasing an additional 1,152,283 shares in the last quarter. Creative Planning boosted its holdings in shares of Bristol Myers Squibb by 16.2% during the 3rd quarter. Creative Planning now owns 523,120 shares of the biopharmaceutical company’s stock worth $23,593,000 after buying an additional 72,927 shares during the period. Lazard Asset Management LLC grew its stake in shares of Bristol Myers Squibb by 5.8% during the third quarter. Lazard Asset Management LLC now owns 396,870 shares of the biopharmaceutical company’s stock worth $17,899,000 after buying an additional 21,733 shares during the last quarter. New England Asset Management Inc. boosted its holdings in Bristol Myers Squibb by 0.8% in the third quarter. New England Asset Management Inc. now owns 40,036 shares of the biopharmaceutical company’s stock worth $1,806,000 after acquiring an additional 315 shares in the last quarter. Finally, Ritter Alpha LP purchased a new position in Bristol Myers Squibb in the third quarter valued at approximately $229,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

About Bristol Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.