Bristol-Myers Squibb (NYSE:BMY) Raised to Strong-Buy at Leerink Partnrs

Bristol-Myers Squibb (NYSE:BMY) was upgraded by analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently commented on BMY. UBS Group boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley boosted their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $73.00 in a research report on Tuesday. Barclays boosted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Trading Down 1.0 %

Shares of BMY stock opened at $58.43 on Tuesday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The firm has a fifty day moving average of $52.24 and a 200-day moving average of $46.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 EPS. Sell-side analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BMY. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management lifted its holdings in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $28,000. Finally, Darwin Wealth Management LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.