Bristol-Myers Squibb (NYSE:BMY) Rating Reiterated by BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY)‘s stock had its “market perform” rating reissued by analysts at BMO Capital Markets in a note issued to investors on Monday, Benzinga reports. They presently have a $48.00 price objective on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 3.23% from the company’s current price.

A number of other research firms have also commented on BMY. Barclays lifted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. TD Cowen lifted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Trading Up 0.4 %

NYSE:BMY traded up $0.19 during mid-day trading on Monday, hitting $49.60. 646,586 shares of the company’s stock were exchanged, compared to its average volume of 14,964,095. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $59.28. The company has a 50 day simple moving average of $47.68 and a 200-day simple moving average of $46.40. The firm has a market capitalization of $100.54 billion, a P/E ratio of -15.99, a PEG ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 earnings per share. As a group, research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Institutional Trading of Bristol-Myers Squibb

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital International Investors increased its stake in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares during the last quarter. Primecap Management Co. CA boosted its position in Bristol-Myers Squibb by 1.0% in the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after purchasing an additional 225,197 shares during the last quarter. Legal & General Group Plc grew its stake in Bristol-Myers Squibb by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after purchasing an additional 735,613 shares during the period. Independent Franchise Partners LLP increased its position in shares of Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after purchasing an additional 556,295 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in shares of Bristol-Myers Squibb by 15.0% during the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after purchasing an additional 1,840,424 shares during the period. 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.