Societe Generale lowered shares of Bristol-Myers Squibb (NYSE:BMY) from a buy rating to a hold rating in a research note published on Monday, 24/7 WallStreet reports. Societe Generale currently has $50.00 price target on the biopharmaceutical company’s stock.
BMY has been the subject of several other research reports. Mizuho started coverage on Bristol-Myers Squibb in a report on Monday, November 25th. They issued a buy rating for the company. Barclays started coverage on Bristol-Myers Squibb in a report on Thursday, February 27th. They issued an equal weight rating and a $69.00 price objective for the company. Citigroup raised Bristol-Myers Squibb from a neutral rating to a buy rating and set a $73.00 price objective for the company in a report on Monday, January 6th. ValuEngine raised Bristol-Myers Squibb from a strong sell rating to a sell rating in a report on Monday, March 9th. Finally, Gabelli started coverage on Bristol-Myers Squibb in a report on Wednesday, November 27th. They issued a buy rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $62.08.
Shares of BMY opened at $52.25 on Monday. The business has a 50-day moving average of $59.79 and a 200 day moving average of $58.38. Bristol-Myers Squibb has a fifty-two week low of $42.48 and a fifty-two week high of $68.34. The firm has a market cap of $111.16 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 0.96 and a beta of 0.78. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.37 and a current ratio of 1.60.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.34. Bristol-Myers Squibb had a return on equity of 31.85% and a net margin of 13.15%. The company had revenue of $7.95 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. As a group, research analysts predict that Bristol-Myers Squibb will post 6.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 3rd will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, April 2nd. Bristol-Myers Squibb’s payout ratio is presently 38.38%.
In other Bristol-Myers Squibb news, EVP John E. Elicker sold 15,805 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $61.01, for a total transaction of $964,263.05. Following the completion of the transaction, the executive vice president now owns 58,666 shares of the company’s stock, valued at approximately $3,579,212.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Wealth Quarterback LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $11,012,211,000. Charles Schwab Investment Management Inc. boosted its position in shares of Bristol-Myers Squibb by 42.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,662,473 shares of the biopharmaceutical company’s stock valued at $1,262,135,000 after acquiring an additional 5,861,939 shares during the last quarter. Capital World Investors boosted its position in shares of Bristol-Myers Squibb by 2.4% during the 4th quarter. Capital World Investors now owns 12,705,535 shares of the biopharmaceutical company’s stock valued at $815,568,000 after acquiring an additional 303,014 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Bristol-Myers Squibb by 42.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,527,341 shares of the biopharmaceutical company’s stock valued at $671,013,000 after acquiring an additional 3,140,646 shares during the last quarter. Finally, TIG Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 9,590.9% during the 4th quarter. TIG Advisors LLC now owns 9,348,540 shares of the biopharmaceutical company’s stock valued at $28,139,000 after acquiring an additional 9,447,040 shares during the last quarter. 77.88% of the stock is owned by institutional investors and hedge funds.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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