Bristol Myers Squibb (NYSE:BMY) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Bristol Myers Squibb (NYSE:BMY) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Several other research analysts have also commented on the stock. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $57.23.

Bristol Myers Squibb Stock Up 0.2%

Shares of Bristol Myers Squibb stock opened at $46.74 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The business has a 50-day moving average price of $45.25 and a 200 day moving average price of $46.69. Bristol Myers Squibb has a fifty-two week low of $42.52 and a fifty-two week high of $63.33. The firm has a market cap of $95.14 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period in the previous year, the business earned $1.80 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, sell-side analysts forecast that Bristol Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. Bristol Myers Squibb’s payout ratio is 83.78%.

Insider Transactions at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. New England Asset Management Inc. grew its position in shares of Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock worth $2,408,000 after buying an additional 305 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Bristol Myers Squibb by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after acquiring an additional 13,959 shares during the period. Commonwealth Retirement Investments LLC grew its holdings in Bristol Myers Squibb by 24.6% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock worth $2,740,000 after acquiring an additional 11,690 shares in the last quarter. Sage Capital Advisors llc increased its position in Bristol Myers Squibb by 60.7% during the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock valued at $3,946,000 after purchasing an additional 32,181 shares during the period. Finally, Castle Rock Wealth Management LLC raised its holdings in shares of Bristol Myers Squibb by 458.2% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 44,559 shares of the biopharmaceutical company’s stock valued at $2,088,000 after purchasing an additional 36,576 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Company Profile

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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.