Bristol-Myers Squibb (NYSE:BMY) Rating Increased to Strong-Buy at Leerink Partnrs

Bristol-Myers Squibb (NYSE:BMY) was upgraded by analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Morgan Stanley upped their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Citigroup boosted their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Trading Down 1.3 %

Shares of Bristol-Myers Squibb stock opened at $59.02 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a market cap of $119.70 billion, a price-to-earnings ratio of -16.44, a price-to-earnings-growth ratio of 20.09 and a beta of 0.44. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The company’s 50-day simple moving average is $52.07 and its 200-day simple moving average is $46.89.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the business posted $2.00 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several large investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its stake in Bristol-Myers Squibb by 31.1% during the third quarter. Daiwa Securities Group Inc. now owns 330,191 shares of the biopharmaceutical company’s stock valued at $17,084,000 after purchasing an additional 78,309 shares during the last quarter. Pekin Hardy Strauss Inc. raised its stake in Bristol-Myers Squibb by 13.9% during the third quarter. Pekin Hardy Strauss Inc. now owns 29,552 shares of the biopharmaceutical company’s stock worth $1,529,000 after acquiring an additional 3,600 shares during the period. Summit Trail Advisors LLC boosted its stake in Bristol-Myers Squibb by 1.8% in the third quarter. Summit Trail Advisors LLC now owns 49,473 shares of the biopharmaceutical company’s stock valued at $2,560,000 after acquiring an additional 894 shares during the period. SevenBridge Financial Group LLC grew its holdings in shares of Bristol-Myers Squibb by 2.4% during the third quarter. SevenBridge Financial Group LLC now owns 46,991 shares of the biopharmaceutical company’s stock valued at $2,431,000 after purchasing an additional 1,093 shares during the last quarter. Finally, Centaurus Financial Inc. grew its stake in Bristol-Myers Squibb by 21.3% during the 3rd quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock worth $565,000 after buying an additional 1,920 shares during the last quarter. Institutional investors own 76.41% 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. 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.