Scotiabank Initiates Coverage on Bristol Myers Squibb (NYSE:BMY)

Equities research analysts at Scotiabank began coverage on shares of Bristol Myers Squibb (NYSE:BMY) in a research report issued on Thursday, MarketBeat reports. The brokerage set a “sector perform” rating and a $45.00 price target on the biopharmaceutical company’s stock. Scotiabank’s price target points to a potential downside of 9.65% from the stock’s previous close.

Several other brokerages have also recently weighed in on BMY. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average price target of $54.58.

Bristol Myers Squibb Trading Up 1.5%

Shares of NYSE BMY traded up $0.73 during trading hours on Thursday, hitting $49.81. 4,495,698 shares of the company traded hands, compared to its average volume of 13,758,650. The stock has a market capitalization of $101.39 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33. The company’s 50 day moving average price is $45.31 and its 200 day moving average price is $46.69. Bristol Myers Squibb has a 12 month low of $42.52 and a 12 month high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period last year, the company earned $1.80 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, equities research analysts anticipate that Bristol Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Bristol Myers Squibb

Institutional investors have recently modified their holdings of the business. Trifecta Capital Advisors LLC acquired a new position in shares of Bristol Myers Squibb during the 2nd quarter worth $25,000. Accent Capital Management LLC purchased a new stake in Bristol Myers Squibb during the first quarter worth about $33,000. Darwin Wealth Management LLC acquired a new position in Bristol Myers Squibb during the second quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its holdings in Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 231 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Bristol Myers Squibb during the 1st quarter valued at approximately $36,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.