Barclays PLC Reaffirms Equal Weight Rating for Bristol-Myers Squibb Co. (BMY)
Several other analysts have also recently commented on the company. SunTrust Banks Inc. reaffirmed a hold rating and issued a $62.00 target price (down previously from $68.00) on shares of Bristol-Myers Squibb in a research report on Monday, October 10th. Leerink Swann reissued an outperform rating and set a $69.00 price objective on shares of Bristol-Myers Squibb in a research report on Sunday, October 9th. Goldman Sachs Group Inc. reissued a buy rating and set a $75.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, September 27th. Citigroup Inc. reduced their price objective on Bristol-Myers Squibb from $75.00 to $70.00 and set a buy rating for the company in a research report on Tuesday, September 20th. Finally, Jefferies Group reissued a hold rating and set a $57.00 price objective (down previously from $69.00) on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $69.06.
Bristol-Myers Squibb (NYSE:BMY) opened at 49.34 on Wednesday. Bristol-Myers Squibb has a one year low of $49.10 and a one year high of $77.12. The stock has a market cap of $82.44 billion, a P/E ratio of 28.85 and a beta of 0.75. The company has a 50-day moving average price of $54.82 and a 200-day moving average price of $66.24.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The business earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. Bristol-Myers Squibb’s revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. On average, analysts anticipate that Bristol-Myers Squibb will post $2.63 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 issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
In other news, Director Lamberto Andreotti sold 23,200 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $59.17, for a total value of $1,372,744.00. Following the transaction, the director now directly owns 364,999 shares of the company’s stock, valued at approximately $21,596,990.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BMY. Bank of Montreal Can acquired a new position in shares of Bristol-Myers Squibb during the second quarter valued at approximately $154,732,000. IBM Retirement Fund increased its position 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. HL Financial Services LLC increased its position in shares of Bristol-Myers Squibb by 0.8% in the second quarter. HL Financial Services LLC now owns 360,221 shares of the biopharmaceutical company’s stock valued at $26,494,000 after buying an additional 2,901 shares during the last quarter. PGGM Investments increased its position in shares of Bristol-Myers Squibb by 1.3% in the second quarter. PGGM Investments now owns 1,321,858 shares of the biopharmaceutical company’s stock valued at $97,223,000 after buying an additional 17,200 shares during the last quarter. Finally, Howard Capital Management increased its position 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. 72.87% of the stock is currently owned by institutional investors and hedge funds.
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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