Truist assumed coverage on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note issued to investors on Friday, The Fly reports. The brokerage issued a hold rating and a $65.00 price objective on the biopharmaceutical company’s stock.
A number of other equities analysts also recently weighed in on BMY. Cfra reissued a buy rating and set a $70.00 price target on shares of Bristol-Myers Squibb in a research report on Sunday, July 26th. Morgan Stanley boosted their price target on Bristol-Myers Squibb from $64.00 to $66.00 and gave the stock an overweight rating in a research report on Wednesday, August 12th. Seaport Global Securities assumed coverage on Bristol-Myers Squibb in a research report on Tuesday, July 28th. They set an outperform rating and a $75.00 price target on the stock. Berenberg Bank assumed coverage on Bristol-Myers Squibb in a report on Tuesday, September 29th. They set a buy rating and a $73.00 price objective for the company. Finally, Raymond James restated a buy rating on shares of Bristol-Myers Squibb in a report on Friday, September 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $77.53.
NYSE:BMY opened at $59.67 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.36 and a current ratio of 1.47. The stock’s 50-day simple moving average is $82.42 and its 200 day simple moving average is $83.84. The company has a market cap of $135.01 billion, a P/E ratio of -596.64, a P/E/G ratio of 1.05 and a beta of 0.71. Bristol-Myers Squibb has a 52-week low of $45.76 and a 52-week high of $68.34.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.15. The business had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.04 billion. Bristol-Myers Squibb had a positive return on equity of 28.47% and a negative net margin of 1.61%. Bristol-Myers Squibb’s quarterly revenue was up 61.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. As a group, equities analysts predict that Bristol-Myers Squibb will post 6.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.02%. The ex-dividend date is Thursday, October 1st. Bristol-Myers Squibb’s payout ratio is presently 38.38%.
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 39,840 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $62.70, for a total transaction of $2,497,968.00. Following the completion of the sale, the chief executive officer now directly owns 445,584 shares in the company, valued at $27,938,116.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sandra Leung sold 141,420 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $63.24, for a total value of $8,943,400.80. Following the sale, the executive vice president now owns 432,744 shares of the company’s stock, valued at $27,366,730.56. The disclosure for this sale can be found here. Insiders have sold 186,587 shares of company stock valued at $11,782,297 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.
Large investors have recently made changes to their positions in the company. Laidlaw Wealth Management LLC increased its holdings in shares of Bristol-Myers Squibb by 11,407.0% during the second quarter. Laidlaw Wealth Management LLC now owns 1,900,156 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 1,883,643 shares in the last quarter. JCIC Asset Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 37.8% during the second quarter. JCIC Asset Management Inc. now owns 620 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 170 shares in the last quarter. HBC Financial Services PLLC increased its holdings in shares of Bristol-Myers Squibb by 166.7% during the second quarter. HBC Financial Services PLLC now owns 800 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 500 shares in the last quarter. CVA Family Office LLC increased its holdings in shares of Bristol-Myers Squibb by 118.0% during the second quarter. CVA Family Office LLC now owns 1,090 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 590 shares in the last quarter. Finally, JJJ Advisors Inc. acquired a new stake in Bristol-Myers Squibb in the second quarter valued at $69,000. Institutional investors own 72.61% 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 in the following therapeutic classes: hematology, oncology, cardiovascular, and immunology. 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 active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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