Vetr Downgrades Bristol-Myers Squibb (BMY) to Sell

Bristol-Myers Squibb (NYSE:BMY) was downgraded by research analysts at Vetr from a “hold” rating to a “sell” rating in a report released on Tuesday. They currently have a $60.72 target price on the biopharmaceutical company’s stock. Vetr‘s target price would suggest a potential downside of 3.33% from the company’s previous close.

A number of other brokerages have also recently issued reports on BMY. Barclays boosted their price objective on Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. Jefferies Group cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 price objective on the stock. in a research note on Monday, October 16th. BMO Capital Markets set a $49.00 price objective on Bristol-Myers Squibb and gave the company a “sell” rating in a research note on Thursday, October 12th. Leerink Swann boosted their price objective on Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Finally, Citigroup boosted their price objective on Bristol-Myers Squibb to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.11.

Shares of Bristol-Myers Squibb (NYSE BMY) opened at $62.81 on Tuesday. The company has a market capitalization of $102,800.00, a price-to-earnings ratio of 24.73, a PEG ratio of 2.30 and a beta of 1.18. Bristol-Myers Squibb has a 52 week low of $46.01 and a 52 week high of $66.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.46 and a current ratio of 1.59.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. research analysts predict that Bristol-Myers Squibb will post 2.99 earnings per share for the current fiscal year.

In other Bristol-Myers Squibb news, EVP Thomas J. Jr. Lynch sold 5,300 shares of Bristol-Myers Squibb stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total transaction of $335,172.00. Following the completion of the transaction, the executive vice president now owns 9,251 shares of the company’s stock, valued at approximately $585,033.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sandra Leung sold 156,582 shares of Bristol-Myers Squibb stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $63.37, for a total value of $9,922,601.34. Following the transaction, the executive vice president now directly owns 584,373 shares of the company’s stock, valued at approximately $37,031,717.01. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Blue Chip Partners Inc. grew its holdings in shares of Bristol-Myers Squibb by 0.7% during the second quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 15 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its holdings in shares of Bristol-Myers Squibb by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the biopharmaceutical company’s stock worth $218,000 after purchasing an additional 15 shares in the last quarter. Chilton Investment Co. LLC grew its holdings in shares of Bristol-Myers Squibb by 0.5% during the second quarter. Chilton Investment Co. LLC now owns 5,283 shares of the biopharmaceutical company’s stock worth $294,000 after purchasing an additional 26 shares in the last quarter. Keel Point LLC grew its holdings in shares of Bristol-Myers Squibb by 0.6% during the second quarter. Keel Point LLC now owns 6,325 shares of the biopharmaceutical company’s stock worth $352,000 after purchasing an additional 39 shares in the last quarter. Finally, Hudock Capital Group LLC grew its holdings in shares of Bristol-Myers Squibb by 0.4% during the second quarter. Hudock Capital Group LLC now owns 11,775 shares of the biopharmaceutical company’s stock worth $656,000 after purchasing an additional 49 shares in the last quarter. 69.74% of the stock is owned by institutional investors and hedge funds.

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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.

To view Vetr’s full report, visit Vetr’s official website.

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