Bristol-Myers Squibb’s (BMY) “Hold” Rating Reaffirmed at Credit Suisse Group AG
Credit Suisse Group AG reissued their hold rating on shares of Bristol-Myers Squibb Co. (NYSE:BMY) in a report released on Monday. Credit Suisse Group AG currently has a $58.00 price target on the biopharmaceutical company’s stock.
A number of other equities research analysts have also issued reports on the company. Goldman Sachs Group Inc. lowered Bristol-Myers Squibb from a strong-buy rating to a buy rating and set a $75.00 price target for the company. in a research note on Thursday, October 13th. Barclays PLC reissued an equal weight rating on shares of Bristol-Myers Squibb in a research note on Wednesday, October 12th. SunTrust Banks Inc. reissued a hold rating and set a $62.00 price target (down from $68.00) on shares of Bristol-Myers Squibb in a research note on Monday, October 10th. Leerink Swann reissued an outperform rating and set a $69.00 price target on shares of Bristol-Myers Squibb in a research note on Sunday, October 9th. Finally, Citigroup Inc. decreased their price target on Bristol-Myers Squibb from $75.00 to $70.00 and set a buy rating for the company in a research note on Tuesday, September 20th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $69.06.
Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 49.34 on Monday. Bristol-Myers Squibb has a 52-week low of $49.10 and a 52-week high of $77.12. The company’s 50 day moving average price is $54.82 and its 200 day moving average price is $66.24. The stock has a market capitalization of $82.44 billion, a PE ratio of 28.85 and a beta of 0.75.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping 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 firm earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same period last year, the company earned $0.53 EPS. Bristol-Myers Squibb’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts anticipate that Bristol-Myers Squibb will post $2.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.08%. Bristol-Myers Squibb’s payout ratio is 87.36%.
In related news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in BMY. Bank of Montreal Can acquired a new position in Bristol-Myers Squibb during the second quarter worth $154,732,000. IBM Retirement Fund boosted 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 worth $16,627,000 after buying an additional 2,421 shares during the last quarter. HL Financial Services LLC boosted 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 worth $26,494,000 after buying an additional 2,901 shares during the last quarter. PGGM Investments boosted 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 worth $97,223,000 after buying an additional 17,200 shares during the last quarter. Finally, Howard Capital Management boosted 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 worth $11,290,000 after buying an additional 1,068 shares during the last quarter. 72.87% of the stock is 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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