Bristol Myers Squibb (NYSE:BMY) Upgraded at Scotiabank

Scotiabank upgraded shares of Bristol Myers Squibb (NYSE:BMY) to a hold rating in a research note published on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Sanford C. Bernstein restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Finally, Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $54.58.

Bristol Myers Squibb Stock Down 4.0%

Shares of BMY opened at $46.67 on Wednesday. The firm has a fifty day moving average price of $45.34 and a 200-day moving average price of $46.70. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $95.00 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.23 and a beta of 0.33. Bristol Myers Squibb has a 12-month low of $42.52 and a 12-month high of $63.33.

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

Bristol Myers Squibb Dividend Announcement

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

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Institutional Trading of Bristol Myers Squibb

Institutional investors have recently modified their holdings of the company. Trifecta Capital Advisors LLC bought a new position in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $25,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol Myers Squibb during the second quarter worth $25,000. Harbor Capital Advisors Inc. increased its position in shares of Bristol Myers Squibb by 107.2% during the third quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 313 shares in the last quarter. REAP Financial Group LLC lifted its holdings in shares of Bristol Myers Squibb by 202.8% during the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 428 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new stake in shares of Bristol Myers Squibb in the 1st quarter worth $33,000. 76.41% of the stock is currently owned by 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.