Bristol-Myers Squibb (NYSE:BMY) Stock Rating Upgraded by Daiwa America

Daiwa America upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a hold rating to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

BMY has been the subject of several other reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price target 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. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. Finally, Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Trading Down 3.9 %

Shares of NYSE:BMY opened at $56.22 on Wednesday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The stock has a market cap of $114.02 billion, a PE ratio of -15.66, a P/E/G ratio of 15.83 and a beta of 0.44. The business has a 50 day moving average of $52.73 and a 200-day moving average of $47.23. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations 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 business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 earnings per share. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.27%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Bristol-Myers Squibb

A number of institutional investors have recently bought and sold shares of BMY. First Foundation Advisors boosted its position in shares of Bristol-Myers Squibb by 20.1% during the 1st quarter. First Foundation Advisors now owns 3,270 shares of the biopharmaceutical company’s stock worth $177,000 after purchasing an additional 548 shares in the last quarter. Nicolet Advisory Services LLC boosted its position in shares of Bristol-Myers Squibb by 62.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 12,600 shares of the biopharmaceutical company’s stock worth $650,000 after purchasing an additional 4,844 shares in the last quarter. Spirepoint Private Client LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth about $506,000. TIAA Trust National Association boosted its position in shares of Bristol-Myers Squibb by 245.5% during the 1st quarter. TIAA Trust National Association now owns 419,445 shares of the biopharmaceutical company’s stock worth $22,747,000 after purchasing an additional 298,026 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Bristol-Myers Squibb by 76.1% during the 1st quarter. Acadian Asset Management LLC now owns 620,324 shares of the biopharmaceutical company’s stock worth $33,632,000 after purchasing an additional 268,006 shares in the last quarter. 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.