Bristol-Myers Squibb’s (BMY) Buy Rating Reiterated at Goldman Sachs Group Inc.
Goldman Sachs Group Inc. reiterated their buy rating on shares of Bristol-Myers Squibb Co. (NYSE:BMY) in a research note published on Tuesday. They currently have a $75.00 price target on the biopharmaceutical company’s stock.
Several other analysts also recently commented on the company. TheStreet upgraded Bristol-Myers Squibb from a hold rating to a buy rating in a research note on Tuesday, May 31st. Vetr upgraded Bristol-Myers Squibb from a sell rating to a buy rating and set a $78.79 target price on the stock in a research note on Tuesday, June 7th. Jefferies Group increased their target price on Bristol-Myers Squibb from $76.00 to $78.00 and gave the company a hold rating in a research note on Tuesday, June 14th. Deutsche Bank AG reiterated a hold rating on shares of Bristol-Myers Squibb in a research note on Wednesday, June 15th. Finally, Zacks Investment Research downgraded Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Monday, July 11th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $69.91.
Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 53.92 on Tuesday. The company’s 50 day moving average price is $57.04 and its 200-day moving average price is $67.06. Bristol-Myers Squibb has a 1-year low of $53.76 and a 1-year high of $77.12. The company has a market capitalization of $90.09 billion, a price-to-earnings ratio of 31.53 and a beta of 0.75.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The company earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities analysts forecast that Bristol-Myers Squibb will post $2.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 annualized dividend and a yield of 2.82%. Bristol-Myers Squibb’s payout ratio is currently 87.36%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the sale, the director now directly owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.
A number of large investors have recently modified their holdings of BMY. IBM Retirement Fund boosted its stake in shares of Bristol-Myers Squibb by 1.1% in the second quarter. IBM Retirement Fund now owns 219,448 shares of the biopharmaceutical company’s stock valued at $16,627,000 after buying an additional 2,421 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Bristol-Myers Squibb by 19.4% in the second quarter. Handelsbanken Fonder AB now owns 141,365 shares of the biopharmaceutical company’s stock valued at $10,397,000 after buying an additional 23,000 shares during the last quarter. Howard Capital Management boosted its stake in shares of Bristol-Myers Squibb by 0.7% in the second quarter. Howard Capital Management now owns 153,499 shares of the biopharmaceutical company’s stock valued at $11,290,000 after buying an additional 1,068 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Bristol-Myers Squibb by 1.1% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,460,780 shares of the biopharmaceutical company’s stock valued at $107,440,000 after buying an additional 15,313 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Bristol-Myers Squibb by 1.9% in the first quarter. Geode Capital Management LLC now owns 13,534,575 shares of the biopharmaceutical company’s stock valued at $862,835,000 after buying an additional 254,653 shares during the last quarter. 72.91% 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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