Bristol-Myers Squibb (NYSE:BMY) Rating Lowered to Buy at StockNews.com

Bristol-Myers Squibb (NYSE:BMY) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

Several other analysts have also issued reports on BMY. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Trading Down 0.5 %

Bristol-Myers Squibb stock opened at $48.27 on Monday. The stock has a market cap of $97.83 billion, a P/E ratio of 12.51, a PEG ratio of 1.78 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $70.93. The firm’s fifty day moving average price is $51.27 and its 200-day moving average price is $51.62.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 earnings per share. Equities research analysts forecast that Bristol-Myers Squibb will post 5.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of large investors have recently added to or reduced their stakes in the stock. Dakota Wealth Management bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at $332,000. Covestor Ltd grew its position in shares of Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 1,082 shares during the period. NewEdge Advisors LLC grew its position in shares of Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after acquiring an additional 57,444 shares during the period. Ergoteles LLC bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at $1,997,000. Finally, Mackenzie Financial Corp grew its position in shares of Bristol-Myers Squibb by 25.1% during the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after acquiring an additional 68,018 shares during the period. 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.