Bristol-Myers Squibb (NYSE:BMY) Stock Rating Upgraded by Jefferies Financial Group

Bristol-Myers Squibb (NYSE:BMY) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $70.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $63.00. Jefferies Financial Group’s target price suggests a potential upside of 21.42% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Bank of America reissued a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Barclays raised their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Wolfe Research began coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.64.

Bristol-Myers Squibb Trading Up 3.2 %

Shares of NYSE:BMY opened at $57.65 on Monday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. 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 company has a market cap of $116.92 billion, a P/E ratio of -16.06, a P/E/G ratio of 15.20 and a beta of 0.45. The stock’s 50-day moving average is $56.01 and its 200-day moving average is $49.63.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.00 EPS. Equities research analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, 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 disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Institutional Trading of Bristol-Myers Squibb

Several institutional investors and hedge funds have recently bought and sold shares of BMY. Lantz Financial LLC increased its holdings in Bristol-Myers Squibb by 17.4% during the second quarter. Lantz Financial LLC now owns 11,799 shares of the biopharmaceutical company’s stock worth $490,000 after buying an additional 1,747 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Bristol-Myers Squibb by 21.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 664,061 shares of the biopharmaceutical company’s stock worth $27,578,000 after buying an additional 117,813 shares during the last quarter. Dakota Wealth Management raised its stake in Bristol-Myers Squibb by 21.0% in the second quarter. Dakota Wealth Management now owns 56,165 shares of the biopharmaceutical company’s stock valued at $2,333,000 after buying an additional 9,748 shares during the period. Legacy Capital Group California Inc. increased its holdings in shares of Bristol-Myers Squibb by 76.7% during the 2nd quarter. Legacy Capital Group California Inc. now owns 6,733 shares of the biopharmaceutical company’s stock worth $280,000 after acquiring an additional 2,922 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its stake in Bristol-Myers Squibb by 9.1% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 6,613 shares of the biopharmaceutical company’s stock valued at $275,000 after acquiring an additional 551 shares during the period. Institutional investors own 76.41% of the company’s stock.

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.