Bristol-Myers Squibb Company (BMY) Given Sell Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their sell rating on shares of Bristol-Myers Squibb Company (NYSE:BMY) in a report published on Monday, September 4th. The brokerage currently has a $49.00 price objective on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on BMY. Vetr upgraded Bristol-Myers Squibb from a buy rating to a strong-buy rating and set a $62.23 target price on the stock in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) restated a buy rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. BidaskClub upgraded Bristol-Myers Squibb from a sell rating to a hold rating in a research note on Saturday, August 12th. Leerink Swann lowered their target price on Bristol-Myers Squibb from $66.00 to $61.00 and set an outperform rating on the stock in a research note on Friday, July 28th. Finally, Cowen and Company set a $65.00 target price on Bristol-Myers Squibb and gave the company a hold rating in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $62.54.

Shares of Bristol-Myers Squibb (NYSE BMY) traded up 0.1821% during trading on Monday, reaching $62.8342. 2,408,631 shares of the company traded hands. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $63.47. The stock’s 50 day moving average price is $57.59 and its 200-day moving average price is $55.71. The stock has a market cap of $103.04 billion, a P/E ratio of 22.9489 and a beta of 1.18.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. On average, equities research analysts expect that Bristol-Myers Squibb will post $2.98 EPS for the current fiscal year.

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In other news, SVP Joseph C. Caldarella sold 9,340 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at approximately $2,777,820. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Theodore R. Samuels II bought 6,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $55.94 per share, with a total value of $335,640.00. Following the purchase, the director now owns 18,000 shares in the company, valued at approximately $1,006,920. The disclosure for this purchase can be found here. Insiders own 0.23% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Chip Partners Inc. raised its position in Bristol-Myers Squibb by 0.7% during the 2nd quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 15 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its position in Bristol-Myers Squibb by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the biopharmaceutical company’s stock valued at $218,000 after purchasing an additional 15 shares during the last quarter. Keel Point LLC raised its position in Bristol-Myers Squibb by 0.3% during the 1st quarter. Keel Point LLC now owns 6,286 shares of the biopharmaceutical company’s stock valued at $342,000 after purchasing an additional 18 shares during the last quarter. Staley Capital Advisers Inc. raised its position in Bristol-Myers Squibb by 0.3% during the 1st quarter. Staley Capital Advisers Inc. now owns 6,962 shares of the biopharmaceutical company’s stock valued at $379,000 after purchasing an additional 24 shares during the last quarter. Finally, Shayne & CO. LLC raised its position in Bristol-Myers Squibb by 0.6% during the 2nd quarter. Shayne & CO. LLC now owns 4,041 shares of the biopharmaceutical company’s stock valued at $225,000 after purchasing an additional 24 shares during the last quarter. 68.80% of the stock is owned by institutional investors.

Bristol-Myers Squibb Company Profile

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.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)




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