Bristol Myers Squibb (NYSE:BMY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Bristol Myers Squibb (NYSE:BMY) from a buy rating to a strong-buy rating in a report released on Saturday morning.

Several other analysts have also recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Finally, Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.23.

Bristol Myers Squibb Stock Up 1.3%

BMY opened at $47.28 on Friday. Bristol Myers Squibb has a twelve month low of $42.52 and a twelve month high of $63.33. The firm has a market cap of $96.25 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 2.23 and a beta of 0.33. The firm’s 50-day simple moving average is $45.25 and its 200-day simple moving average is $46.67. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

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

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is 83.78%.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the completion of the transaction, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bristol Myers Squibb

Several hedge funds have recently made changes to their positions in the business. MAI Capital Management boosted its holdings in Bristol Myers Squibb by 9.8% during the third quarter. MAI Capital Management now owns 176,502 shares of the biopharmaceutical company’s stock worth $7,960,000 after purchasing an additional 15,703 shares during the last quarter. RWA Wealth Partners LLC grew its holdings in shares of Bristol Myers Squibb by 10.2% in the 3rd quarter. RWA Wealth Partners LLC now owns 79,515 shares of the biopharmaceutical company’s stock valued at $3,586,000 after acquiring an additional 7,354 shares in the last quarter. Cary Street Partners Financial LLC increased its position in shares of Bristol Myers Squibb by 11.6% in the third quarter. Cary Street Partners Financial LLC now owns 106,445 shares of the biopharmaceutical company’s stock valued at $4,801,000 after acquiring an additional 11,086 shares during the last quarter. Waddell & Associates LLC raised its holdings in Bristol Myers Squibb by 7.0% during the third quarter. Waddell & Associates LLC now owns 7,007 shares of the biopharmaceutical company’s stock worth $316,000 after acquiring an additional 459 shares in the last quarter. Finally, Cowa LLC boosted its position in Bristol Myers Squibb by 4.0% during the third quarter. Cowa LLC now owns 19,204 shares of the biopharmaceutical company’s stock valued at $866,000 after purchasing an additional 737 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

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.