Bristol-Myers Squibb (NYSE:BMY) Stock Rating Upgraded by StockNews.com

Bristol-Myers Squibb (NYSE:BMYGet Free Report) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Several other equities research analysts also recently commented on BMY. UBS Group reissued a “neutral” rating and set a $60.00 target price (down from $70.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 20th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. TheStreet downgraded shares of Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research report on Thursday, November 9th. Cantor Fitzgerald cut shares of Bristol-Myers Squibb from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $55.00 in a report on Wednesday, November 15th. Finally, Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.17.

View Our Latest Stock Report on Bristol-Myers Squibb

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $49.75 on Tuesday. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $73.47. The firm has a fifty day simple moving average of $50.52 and a 200 day simple moving average of $54.58. The company has a market capitalization of $101.23 billion, a PE ratio of 12.89, a P/E/G ratio of 1.53 and a beta of 0.38. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.33%. The business had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter last year, the firm earned $1.82 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 6.52 EPS for the current year.

Bristol-Myers Squibb announced that its board has approved a stock buyback program on Thursday, December 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Bristol-Myers Squibb

In related news, CEO Christopher S. Boerner bought 2,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was purchased at an average cost of $49.78 per share, with a total value of $99,560.00. Following the transaction, the chief executive officer now owns 82,672 shares in the company, valued at approximately $4,115,412.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Bristol-Myers Squibb news, CEO Christopher S. Boerner purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was bought at an average cost of $49.78 per share, for a total transaction of $99,560.00. Following the purchase, the chief executive officer now directly owns 82,672 shares in the company, valued at $4,115,412.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodore R. Samuels II acquired 8,500 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $49.81 per share, with a total value of $423,385.00. Following the completion of the purchase, the director now owns 35,500 shares in the company, valued at approximately $1,768,255. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 13,571 shares of company stock valued at $672,994. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in Bristol-Myers Squibb by 0.9% in the 2nd quarter. State Street Corp now owns 92,570,288 shares of the biopharmaceutical company’s stock worth $5,919,870,000 after purchasing an additional 858,922 shares during the period. Capital International Investors lifted its position in Bristol-Myers Squibb by 12.8% in the second quarter. Capital International Investors now owns 69,296,006 shares of the biopharmaceutical company’s stock worth $4,431,517,000 after buying an additional 7,878,833 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Bristol-Myers Squibb by 0.6% during the second quarter. Geode Capital Management LLC now owns 39,034,341 shares of the biopharmaceutical company’s stock worth $2,489,314,000 after purchasing an additional 225,065 shares during the last quarter. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $1,560,524,000. Finally, Northern Trust Corp raised its holdings in shares of Bristol-Myers Squibb by 5.8% in the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after acquiring an additional 1,394,158 shares in the last quarter. 74.98% of the stock is owned by hedge funds and other institutional investors.

About Bristol-Myers Squibb

(Get Free Report)

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.

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Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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