Bristol-Myers Squibb (NYSE:BMY) Upgraded to “Buy” by Argus

Bristol-Myers Squibb (NYSE:BMY) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Friday, The Fly reports.

A number of other analysts have also commented on BMY. ValuEngine upgraded shares of Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 19th. TheStreet upgraded shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. Mizuho began coverage on shares of Bristol-Myers Squibb in a research note on Monday, November 25th. They issued a “buy” rating for the company. Wolfe Research set a $66.00 price target on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. set a $62.00 price target on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $57.95.

NYSE:BMY opened at $63.94 on Friday. The firm has a market cap of $101.68 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.45 and a beta of 0.70. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.72 and a current ratio of 3.83. Bristol-Myers Squibb has a fifty-two week low of $42.48 and a fifty-two week high of $64.21. The firm has a 50-day simple moving average of $57.66 and a two-hundred day simple moving average of $50.12.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.89 billion. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. Bristol-Myers Squibb’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. On average, equities research analysts predict that Bristol-Myers Squibb will post 4.38 EPS for the current year.

In related news, insider Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total transaction of $1,414,000.00. Following the completion of the sale, the insider now directly owns 31,963 shares in the company, valued at $1,807,827.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John E. Elicker sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $56.66, for a total transaction of $849,900.00. Following the sale, the senior vice president now owns 74,471 shares of the company’s stock, valued at $4,219,526.86. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in BMY. Garrett Wealth Advisory Group LLC bought a new stake in Bristol-Myers Squibb in the third quarter worth $26,000. Lenox Wealth Advisors LLC increased its position in Bristol-Myers Squibb by 555.7% in the third quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 539 shares during the last quarter. Financial Gravity Wealth Inc. increased its position in Bristol-Myers Squibb by 101.2% in the third quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 327 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Bristol-Myers Squibb by 52.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 665 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 230 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in Bristol-Myers Squibb in the third quarter worth $41,000. Institutional investors own 83.13% of the company’s stock.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

Recommended Story: Margin

The Fly

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

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.