StockNews.com Downgrades Bristol-Myers Squibb (NYSE:BMY) to Buy

Bristol-Myers Squibb (NYSE:BMY) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

BMY has been the topic of several other reports. BMO Capital Markets decreased their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Barclays cut their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $40.82 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The stock has a market capitalization of $82.75 billion, a price-to-earnings ratio of -13.17, a P/E/G ratio of 13.95 and a beta of 0.43. Bristol-Myers Squibb has a 1-year low of $39.91 and a 1-year high of $66.38. The firm’s 50-day moving average price is $44.08 and its two-hundred day moving average price is $48.61.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth $27,000. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb in the fourth quarter valued at $27,000. Accordant Advisory Group Inc bought a new position in Bristol-Myers Squibb in the first quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. bought a new position in Bristol-Myers Squibb in the fourth quarter valued at $34,000. Finally, VisionPoint Advisory Group LLC grew its position in Bristol-Myers Squibb by 300.5% in the third quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 553 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.