Bristol-Myers Squibb (NYSE:BMY) Stock Rating Upgraded by Daiwa Capital Markets

Bristol-Myers Squibb (NYSE:BMY) was upgraded by analysts at Daiwa Capital Markets from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, MarketBeat reports.

A number of other equities research analysts also recently weighed in on BMY. Barclays raised their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $73.00 in a research note on Tuesday. Finally, Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded down $1.22 during trading on Wednesday, hitting $57.28. 2,161,983 shares of the company were exchanged, compared to its average volume of 14,377,174. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The stock has a 50 day moving average of $52.58 and a 200 day moving average of $47.15. 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 company has a market cap of $116.17 billion, a PE ratio of -15.92, a P/E/G ratio of 15.83 and a beta of 0.44.

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

Insider Buying and Selling

In other news, 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 transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % 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 Investors Weigh In On Bristol-Myers Squibb

Hedge funds have recently modified their holdings of the business. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at about $25,000. Hollencrest Capital Management grew its position in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares during the last quarter. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $28,000. Finally, Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter worth $29,000. 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.