Hilliard Lyons Downgrades Bristol-Myers Squibb Company (BMY) to Neutral

Bristol-Myers Squibb Company (NYSE:BMY) was downgraded by research analysts at Hilliard Lyons from a “long-term buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. They presently have a $65.00 price target on the biopharmaceutical company’s stock. Hilliard Lyons’ price objective indicates a potential upside of 4.03% from the stock’s previous close.

A number of other research firms also recently weighed in on BMY. Jefferies Group LLC restated a “buy” rating and set a $66.00 price target on shares of Bristol-Myers Squibb in a report on Monday. Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $62.23 price target on the stock in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Wednesday, August 9th. BMO Capital Markets restated an “underperform” rating and set a $47.00 price target (down previously from $51.00) on shares of Bristol-Myers Squibb in a report on Wednesday, July 26th. Finally, BidaskClub upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $62.31.

Bristol-Myers Squibb (NYSE:BMY) opened at 62.48 on Tuesday. The company’s 50 day moving average is $57.94 and its 200 day moving average is $55.81. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $63.47. The firm has a market cap of $102.46 billion, a price-to-earnings ratio of 22.82 and a beta of 1.18.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. Bristol-Myers Squibb’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. On average, equities analysts anticipate that Bristol-Myers Squibb will post $2.98 earnings per share for the current year.

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In related news, Director Theodore R. Samuels II purchased 6,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the completion of the sale, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Bristol-Myers Squibb by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock valued at $6,611,829,000 after acquiring an additional 333,685 shares in the last quarter. BlackRock Inc. boosted its position in shares of Bristol-Myers Squibb by 2.4% during the 2nd quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock valued at $5,541,612,000 after acquiring an additional 2,367,864 shares in the last quarter. State Street Corp boosted its position in shares of Bristol-Myers Squibb by 1.8% during the 1st quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after acquiring an additional 1,223,457 shares in the last quarter. Dodge & Cox boosted its position in shares of Bristol-Myers Squibb by 1.6% during the 2nd quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock valued at $1,648,168,000 after acquiring an additional 459,271 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Bristol-Myers Squibb by 3.9% during the 2nd quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock valued at $1,339,612,000 after acquiring an additional 910,496 shares in the last quarter. Institutional investors and hedge funds own 68.80% of the company’s stock.

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.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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