Bristol-Myers Squibb’s (BMY) “Hold” Rating Reiterated at Cowen and Company
Cowen and Company restated their hold rating on shares of Bristol-Myers Squibb Company (NYSE:BMY) in a research report sent to investors on Tuesday morning. They currently have a $65.00 price objective on the biopharmaceutical company’s stock.
Several other equities analysts have also commented on BMY. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $65.00 price objective (up from $62.00) on shares of Bristol-Myers Squibb in a research report on Thursday, September 7th. Hilliard Lyons lowered shares of Bristol-Myers Squibb from a long-term buy rating to a neutral rating and set a $65.00 price objective for the company. in a research report on Tuesday, September 12th. Jefferies Group LLC reaffirmed a buy rating and issued a $64.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, June 5th. Piper Jaffray Companies set a $60.00 price objective on shares of Bristol-Myers Squibb and gave the company a hold rating in a research report on Thursday, July 27th. Finally, Vetr raised shares of Bristol-Myers Squibb from a buy rating to a strong-buy rating and set a $58.88 price objective for the company in a research report on Monday, June 5th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $62.20.
Bristol-Myers Squibb (BMY) opened at 63.33 on Tuesday. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $63.74. The firm has a 50-day moving average of $58.94 and a 200 day moving average of $56.02. The stock has a market capitalization of $103.86 billion, a PE ratio of 23.13 and a beta of 1.18.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, equities research analysts anticipate that Bristol-Myers Squibb will post $2.98 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is presently 56.73%.
In other news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total transaction of $560,400.00. Following the sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at approximately $2,777,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodore R. Samuels II acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the purchase, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The disclosure for this purchase can be found here. 0.23% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Bristol-Myers Squibb by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after purchasing an additional 333,685 shares during the period. BlackRock Inc. grew its stake in shares of Bristol-Myers Squibb by 2.4% during the 2nd quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after purchasing an additional 2,367,864 shares during the period. State Street Corp grew its stake in shares of Bristol-Myers Squibb by 1.8% during the 1st quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock worth $3,746,446,000 after purchasing an additional 1,223,457 shares during the period. Dodge & Cox grew its stake in shares of Bristol-Myers Squibb by 1.6% during the 2nd quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after purchasing an additional 459,271 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Bristol-Myers Squibb by 3.9% during the 2nd quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock worth $1,339,612,000 after purchasing an additional 910,496 shares during the period. 68.88% of the stock is currently owned by institutional investors and hedge funds.
Bristol-Myers Squibb Company Profile
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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