BMO Capital Markets reissued their underperform rating on shares of Bristol-Myers Squibb Company (NYSE:BMY) in a report published on Wednesday, July 26th. The brokerage currently has a $47.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $51.00.
A number of other brokerages also recently commented on BMY. Vetr raised Bristol-Myers Squibb from a buy rating to a strong-buy rating and set a $62.23 price objective for the company in a research report on Wednesday, July 12th. BidaskClub raised Bristol-Myers Squibb from a hold rating to a buy rating in a research report on Tuesday, June 27th. Cowen and Company set a $65.00 price objective on Bristol-Myers Squibb and gave the stock a hold rating in a research report on Monday, July 10th. William Blair restated an outperform rating on shares of Bristol-Myers Squibb in a research note on Monday, June 26th. Finally, Jefferies Group LLC restated a buy rating and set a $64.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Bristol-Myers Squibb has an average rating of Hold and an average price target of $63.33.
Bristol-Myers Squibb (NYSE BMY) traded up 0.63% during mid-day trading on Wednesday, hitting $56.30. 5,124,033 shares of the company’s stock traded hands. The stock has a market cap of $92.33 billion, a PE ratio of 20.56 and a beta of 1.17. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $64.77. The firm’s 50-day moving average price is $55.55 and its 200-day moving average price is $54.50.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts forecast that Bristol-Myers Squibb will post $2.97 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s payout ratio is currently 56.73%.
In related news, Director Theodore R. Samuels II bought 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were acquired at an average price of $55.94 per share, with a total value of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at approximately $1,006,920. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Dodge & Cox acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $1,316,815,000. Norges Bank acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $770,318,000. Ameriprise Financial Inc. raised its position in shares of Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock worth $845,504,000 after buying an additional 2,451,390 shares in the last quarter. Swiss National Bank raised its position in shares of Bristol-Myers Squibb by 27.2% in the first quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock worth $322,020,000 after buying an additional 1,267,900 shares in the last quarter. Finally, State Street Corp raised its position in shares of Bristol-Myers Squibb by 1.8% in the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock worth $3,746,446,000 after buying an additional 1,223,457 shares in the last quarter. 69.79% of the stock is currently owned by hedge funds and other institutional investors.
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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