Leerink Partners Upgrades Bristol-Myers Squibb (NYSE:BMY) to Outperform

Bristol-Myers Squibb (NYSE:BMY) was upgraded by research analysts at Leerink Partners from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has a $73.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $55.00. Leerink Partners’ price target would suggest a potential upside of 24.94% from the company’s previous close.

Several other research firms have also recently commented on BMY. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Citigroup lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $75.00 to $55.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Trading Down 1.0 %

NYSE BMY opened at $58.43 on Tuesday. The stock has a market capitalization of $118.51 billion, a price-to-earnings ratio of -16.28, a PEG ratio of 21.34 and a beta of 0.44. The stock’s 50 day moving average price is $52.24 and its two-hundred day moving average price is $46.99. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08.

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

Insider Buying and Selling at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors have recently modified their holdings of the company. Atomi Financial Group Inc. acquired a new stake in Bristol-Myers Squibb during the first quarter worth about $231,000. Avantax Advisory Services Inc. lifted its stake in shares of Bristol-Myers Squibb by 3.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 69,961 shares of the biopharmaceutical company’s stock valued at $3,794,000 after purchasing an additional 2,336 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Bristol-Myers Squibb by 2.7% in the 1st quarter. TD Asset Management Inc now owns 1,648,245 shares of the biopharmaceutical company’s stock valued at $89,384,000 after purchasing an additional 42,682 shares during the last quarter. Souders Financial Advisors acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $370,000. Finally, TBH Global Asset Management LLC lifted its position in Bristol-Myers Squibb by 10.4% during the 1st quarter. TBH Global Asset Management LLC now owns 9,656 shares of the biopharmaceutical company’s stock worth $524,000 after acquiring an additional 906 shares during the last quarter. Hedge funds and other institutional investors 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.