Bristol-Myers Squibb Company (NYSE:BMY) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday. The firm presently has a $64.08 price objective on the biopharmaceutical company’s stock. Vetr‘s target price points to a potential upside of 12.96% from the company’s current price.
Several other research firms have also recently issued reports on BMY. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday. BidaskClub upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. William Blair reiterated an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, June 26th. BMO Capital Markets reiterated an “underperform” rating and issued a $47.00 target price (down from $51.00) on shares of Bristol-Myers Squibb in a research note on Wednesday, July 26th. Finally, Cowen and Company set a $65.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $62.12.
Bristol-Myers Squibb (NYSE:BMY) opened at 56.73 on Thursday. Bristol-Myers Squibb has a 52 week low of $46.01 and a 52 week high of $60.86. The company has a market capitalization of $93.03 billion, a PE ratio of 20.72 and a beta of 1.17. The company has a 50-day moving average of $55.80 and a 200-day moving average of $54.64.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. Bristol-Myers Squibb’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post $2.97 EPS for the current year.
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In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, August 2nd. The shares were bought at an average price of $55.94 per share, with a total value of $335,640.00. Following the acquisition, the director now owns 18,000 shares in the company, valued at $1,006,920. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. American National Bank raised its position in Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares in the last quarter. Tradewinds Capital Management LLC raised its position in Bristol-Myers Squibb by 34.6% in the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 500 shares in the last quarter. Welch Investments LLC raised its position in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in Bristol-Myers Squibb during the first quarter valued at approximately $116,000. Finally, Blue Chip Partners Inc. raised its position in Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares in the last quarter. 69.79% of the stock is currently owned by institutional investors.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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