Bristol-Myers Squibb Company (NYSE:BMY) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $64.33 target price on the biopharmaceutical company’s stock. Vetr‘s price objective would suggest a potential upside of 14.92% from the company’s current price.
BMY has been the subject of a number of other research reports. Jefferies Group LLC reiterated a “buy” rating and set a $64.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, June 5th. BidaskClub upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Robert W. Baird initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 25th. They set an “outperform” rating for the company. Deutsche Bank AG set a $55.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a report on Monday, July 17th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 4th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $63.37.
Bristol-Myers Squibb (NYSE:BMY) traded up 0.05% during trading on Wednesday, hitting $55.98. 8,049,264 shares of the company’s stock traded hands. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $76.48. The company’s 50 day moving average is $55.29 and its 200-day moving average is $54.59. The stock has a market cap of $92.22 billion, a P/E ratio of 19.44 and a beta of 1.17.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. Bristol-Myers Squibb had a net margin of 24.22% and a return on equity of 31.86%. The company had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the business posted $0.74 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, analysts predict that Bristol-Myers Squibb will post $2.95 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the company. Bogle Investment Management L P DE bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $12,706,000. City Financial Investment Co Ltd bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $5,789,000. Sciencast Management LP bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $480,000. Seven Eight Capital LP bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $1,575,000. Finally, Ancora Advisors LLC increased its stake in Bristol-Myers Squibb by 18.6% in the fourth quarter. Ancora Advisors LLC now owns 102,513 shares of the biopharmaceutical company’s stock valued at $5,991,000 after buying an additional 16,063 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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