Bristol-Myers Squibb (NYSE:BMY) Upgraded at Leerink Partners

Leerink Partners upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a market perform rating to an outperform rating in a research report released on Tuesday, MarketBeat Ratings reports. The firm currently has $73.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $55.00.

Several other research firms also recently commented on BMY. TD Cowen lifted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. BMO Capital Markets upped their target price on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Barclays boosted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $75.00 to $55.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Trading Down 2.3 %

NYSE BMY traded down $1.34 on Tuesday, reaching $57.16. The company had a trading volume of 1,089,516 shares, compared to its average volume of 14,372,343. 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 stock has a market cap of $115.93 billion, a price-to-earnings ratio of -15.92, a PEG ratio of 15.83 and a beta of 0.44. The stock’s 50 day moving average is $52.58 and its 200-day moving average is $47.15. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.20%. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently modified their holdings of the company. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management boosted its position in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the period. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. Kennebec Savings Bank purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Finally, Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at $29,000. 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.