Bristol-Myers Squibb (NYSE:BMY) Upgraded to “Strong-Buy” at Daiwa America

Bristol-Myers Squibb (NYSE:BMY) was upgraded by stock analysts at Daiwa America from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other brokerages have also issued reports on BMY. BMO Capital Markets boosted their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. UBS Group lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of BMY stock opened at $58.49 on Wednesday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The firm’s fifty day simple moving average is $52.41 and its 200 day simple moving average is $47.07. The firm has a market capitalization of $118.63 billion, a P/E ratio of -16.29, a price-to-earnings-growth ratio of 21.34 and a beta of 0.44. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

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

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently modified their holdings of BMY. First Foundation Advisors increased its stake in shares of Bristol-Myers Squibb by 20.1% in the 1st quarter. First Foundation Advisors now owns 3,270 shares of the biopharmaceutical company’s stock valued at $177,000 after acquiring an additional 548 shares during the last quarter. Nicolet Advisory Services LLC grew its position in shares of Bristol-Myers Squibb by 62.5% in the 1st quarter. Nicolet Advisory Services LLC now owns 12,600 shares of the biopharmaceutical company’s stock valued at $650,000 after purchasing an additional 4,844 shares during the period. Spirepoint Private Client LLC acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $506,000. TIAA Trust National Association grew its position in shares of Bristol-Myers Squibb by 245.5% in the 1st quarter. TIAA Trust National Association now owns 419,445 shares of the biopharmaceutical company’s stock valued at $22,747,000 after purchasing an additional 298,026 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Bristol-Myers Squibb by 76.1% in the 1st quarter. Acadian Asset Management LLC now owns 620,324 shares of the biopharmaceutical company’s stock valued at $33,632,000 after purchasing an additional 268,006 shares during the period. 76.41% of the stock is owned by institutional investors.

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.