Wolfe Research Begins Coverage on Bristol-Myers Squibb (NYSE:BMY)

Wolfe Research initiated coverage on shares of Bristol-Myers Squibb (NYSE:BMY) in a research report report published on Friday, Marketbeat reports. The firm issued a peer perform rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also issued reports on the stock. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. TD Cowen boosted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Trading Up 1.0 %

NYSE:BMY opened at $56.81 on Friday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The firm has a 50-day moving average price of $52.90 and a two-hundred day moving average price of $47.37. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a market cap of $115.22 billion, a price-to-earnings ratio of -15.82, a price-to-earnings-growth ratio of 15.23 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 earnings per share. On average, equities analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.22%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in Bristol-Myers Squibb by 1.6% during the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after buying an additional 1,451,214 shares during the last quarter. Capital International Investors lifted its holdings in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after acquiring an additional 8,675,322 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after purchasing an additional 1,968,729 shares during the last quarter. FMR LLC lifted its stake in shares of Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Bristol-Myers Squibb by 2.5% during the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock valued at $2,228,425,000 after buying an additional 1,036,495 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

About Bristol-Myers Squibb

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.