Bristol-Myers Squibb (NYSE:BMY) Upgraded to “Sell” at ValuEngine

Bristol-Myers Squibb (NYSE:BMY) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Tuesday, ValuEngine reports.

Other equities analysts have also issued research reports about the stock. Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective for the company in a research report on Wednesday, August 14th. UBS Group boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. TheStreet raised shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. William Blair reissued an “outperform” rating on shares of Bristol-Myers Squibb in a research report on Monday. Finally, Bank of America began coverage on shares of Bristol-Myers Squibb in a research report on Wednesday, October 16th. They issued a “buy” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Buy” and a consensus price target of $57.45.

NYSE:BMY opened at $57.65 on Tuesday. The firm has a 50 day simple moving average of $54.34 and a 200-day simple moving average of $48.77. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.83 and a quick ratio of 3.72. The firm has a market cap of $95.33 billion, a PE ratio of 14.48, a P/E/G ratio of 1.36 and a beta of 0.71. Bristol-Myers Squibb has a 1-year low of $42.48 and a 1-year high of $59.17.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.89 billion. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 earnings per share. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 4.33 earnings per share for the current fiscal year.

In related news, insider Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total value of $1,414,000.00. Following the completion of the sale, the insider now directly owns 31,963 shares in the company, valued at $1,807,827.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John E. Elicker sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $56.66, for a total transaction of $849,900.00. Following the completion of the sale, the senior vice president now owns 74,471 shares of the company’s stock, valued at $4,219,526.86. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Garrett Wealth Advisory Group LLC purchased a new stake in Bristol-Myers Squibb during the third quarter worth approximately $26,000. Lenox Wealth Advisors LLC grew its stake in Bristol-Myers Squibb by 555.7% during the third quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 539 shares during the period. Financial Gravity Wealth Inc. grew its stake in Bristol-Myers Squibb by 101.2% during the third quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 327 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in Bristol-Myers Squibb by 52.9% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 665 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 230 shares during the period. Finally, 1 North Wealth Services LLC purchased a new stake in Bristol-Myers Squibb during the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 82.87% 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. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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