Bristol Myers Squibb (NYSE:BMY) Upgraded by Scotiabank to “Hold” Rating

Scotiabank upgraded shares of Bristol Myers Squibb (NYSE:BMY) to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Finally, Wall Street Zen upgraded shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Four equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $54.58.

Bristol Myers Squibb Stock Down 4.0%

NYSE:BMY traded down $1.96 on Wednesday, reaching $46.67. The stock had a trading volume of 19,771,775 shares, compared to its average volume of 13,833,216. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb has a 12-month low of $42.52 and a 12-month high of $63.33. The company has a 50-day moving average of $45.35 and a 200 day moving average of $46.71. The stock has a market cap of $95.00 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.Bristol Myers Squibb’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, research analysts predict that Bristol Myers Squibb will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were given a dividend of $0.62 per share. The ex-dividend date was Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. Bristol Myers Squibb’s payout ratio is currently 83.78%.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, the executive vice president owned 167,379 shares of the company’s stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bristol Myers Squibb

A number of hedge funds and other institutional investors have recently modified their holdings of BMY. Trifecta Capital Advisors LLC acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth approximately $25,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at $25,000. Harbor Capital Advisors Inc. raised its stake in shares of Bristol Myers Squibb by 107.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 313 shares in the last quarter. REAP Financial Group LLC lifted its holdings in shares of Bristol Myers Squibb by 202.8% in the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 428 shares during the period. Finally, Accent Capital Management LLC bought a new stake in Bristol Myers Squibb in the first quarter worth about $33,000. 76.41% of the stock is currently owned by institutional investors.

About Bristol Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.