Bristol-Myers Squibb (NYSE:BMY) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note published on Friday morning, Benzinga reports. They currently have a $75.00 price objective on the biopharmaceutical company’s stock.

BMY has been the topic of a number of other reports. Atlantic Securities dropped their price objective on shares of Bristol-Myers Squibb from $90.00 to $85.00 and set an overweight rating on the stock in a research note on Friday, July 28th. BMO Capital Markets dropped their price target on shares of Bristol-Myers Squibb from $87.00 to $79.00 and set an outperform rating on the stock in a research note on Friday, July 28th. SVB Leerink reiterated a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, July 10th. HSBC began coverage on shares of Bristol-Myers Squibb in a research note on Friday, July 14th. They set a reduce rating and a $56.00 price target on the stock. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $70.67.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $58.58 on Friday. The company’s fifty day moving average price is $61.62 and its 200 day moving average price is $65.11. Bristol-Myers Squibb has a 12 month low of $58.33 and a 12 month high of $81.43. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.39 and a quick ratio of 1.28. The firm has a market capitalization of $122.38 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.57 and a beta of 0.42.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.24). The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $11.81 billion. Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. Bristol-Myers Squibb’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 earnings per share. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 7.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the completion of the transaction, the executive vice president now owns 27,868 shares of the company’s stock, valued at $1,706,915. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Robert M. Plenge sold 732 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total value of $44,754.48. Following the transaction, the executive vice president now directly owns 6,584 shares in the company, valued at approximately $402,545.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Powell sold 17,986 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the transaction, the executive vice president now directly owns 27,868 shares in the company, valued at approximately $1,706,915. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Security Asset Management increased its position in Bristol-Myers Squibb by 20.3% during the first quarter. Security Asset Management now owns 9,230 shares of the biopharmaceutical company’s stock worth $640,000 after buying an additional 1,558 shares during the last quarter. Richard P Slaughter Associates Inc increased its holdings in shares of Bristol-Myers Squibb by 3.5% during the 2nd quarter. Richard P Slaughter Associates Inc now owns 22,040 shares of the biopharmaceutical company’s stock valued at $1,409,000 after acquiring an additional 750 shares during the last quarter. Talbot Financial LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $4,482,000. Ethic Inc. boosted its position in Bristol-Myers Squibb by 26.4% during the first quarter. Ethic Inc. now owns 121,524 shares of the biopharmaceutical company’s stock worth $8,423,000 after purchasing an additional 25,385 shares during the period. Finally, Atlas Wealth LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $276,000. 74.98% of the stock is currently owned by institutional investors and hedge funds.

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.