Bristol-Myers Squibb (NYSE:BMY) Downgraded by StockNews.com to “Buy”

Bristol-Myers Squibb (NYSE:BMY) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts have also recently issued reports on BMY. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays reduced their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. BMO Capital Markets reduced their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $42.50 on Thursday. Bristol-Myers Squibb has a fifty-two week low of $39.63 and a fifty-two week high of $65.38. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The company has a market cap of $86.15 billion, a PE ratio of -13.71, a P/E/G ratio of 14.28 and a beta of 0.43. The firm has a 50-day simple moving average of $43.36 and a 200 day simple moving average of $48.31.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the prior year, the business earned $2.05 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Old Port Advisors increased its holdings in Bristol-Myers Squibb by 1.1% in the 1st quarter. Old Port Advisors now owns 39,490 shares of the biopharmaceutical company’s stock worth $2,142,000 after acquiring an additional 419 shares during the last quarter. Abich Financial Wealth Management LLC raised its position in Bristol-Myers Squibb by 53.2% during the first quarter. Abich Financial Wealth Management LLC now owns 2,979 shares of the biopharmaceutical company’s stock valued at $162,000 after purchasing an additional 1,035 shares in the last quarter. Keynote Financial Services LLC bought a new stake in Bristol-Myers Squibb during the first quarter worth about $1,505,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 94.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,992 shares of the biopharmaceutical company’s stock worth $271,000 after purchasing an additional 2,431 shares in the last quarter. Finally, Hamilton Wealth LLC raised its stake in shares of Bristol-Myers Squibb by 106.3% during the first quarter. Hamilton Wealth LLC now owns 66,548 shares of the biopharmaceutical company’s stock worth $3,609,000 after acquiring an additional 34,284 shares in the last quarter. Hedge funds and other 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.