Bristol-Myers Squibb (BMY) Downgraded to “Hold” at Vetr
Vetr downgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a buy rating to a hold rating in a research note released on Friday morning. The brokerage currently has $59.70 target price on the biopharmaceutical company’s stock.
A number of other equities analysts also recently weighed in on BMY. Jefferies Group reaffirmed a buy rating and set a $72.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, September 27th. Piper Jaffray Companies reissued a hold rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 27th. Cowen reissued a hold rating and issued a $65.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, September 19th. Citigroup increased their price objective on Bristol-Myers Squibb to $72.00 and gave the company a buy rating in a report on Wednesday, October 18th. Finally, Credit Suisse Group reissued a hold rating and issued a $61.00 price objective (up previously from $58.00) on shares of Bristol-Myers Squibb in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $64.42.
Bristol-Myers Squibb (NYSE:BMY) opened at $60.96 on Friday. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $66.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.46 and a current ratio of 1.59. The firm has a market capitalization of $99,770.00, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 2.33 and a beta of 1.17.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the company earned $0.77 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. sell-side analysts expect that Bristol-Myers Squibb will post 2.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, January 4th. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s dividend payout ratio is 61.42%.
In other Bristol-Myers Squibb news, EVP Thomas J. Jr. Lynch sold 5,300 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total transaction of $335,172.00. Following the transaction, the executive vice president now owns 9,251 shares in the company, valued at approximately $585,033.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sandra Leung sold 156,582 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $63.37, for a total value of $9,922,601.34. Following the transaction, the executive vice president now owns 584,373 shares in the company, valued at approximately $37,031,717.01. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Massey Quick Simon & CO. LLC increased its position in shares of Bristol-Myers Squibb by 523.5% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,777 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 1,492 shares during the period. Horan Capital Advisors LLC. bought a new position in shares of Bristol-Myers Squibb in the third quarter worth $122,000. Tradewinds Capital Management LLC increased its position in shares of Bristol-Myers Squibb by 34.6% in the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 500 shares during the period. Atlantic Trust LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter worth $111,000. Finally, AllSquare Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter worth $134,000. Hedge funds and other institutional investors own 69.66% of the company’s stock.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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