Bristol-Myers Squibb (NYSE:BMY) Trading Up 12.4% – Still a Buy?

Bristol-Myers Squibb (NYSE:BMY) shot up 12.4% during trading on Monday . The company traded as high as $61.08 and last traded at $60.85. 10,654,934 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 14,378,335 shares. The stock had previously closed at $54.14.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BMY shares. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Citigroup lifted their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Finally, Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Stock Performance

The firm’s 50 day moving average price is $52.24 and its 200-day moving average price is $46.99. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the firm earned $2.00 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.11%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Graypoint LLC lifted its position in shares of Bristol-Myers Squibb by 29.4% during the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after buying an additional 2,563 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Bristol-Myers Squibb by 8.8% in the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after buying an additional 25,543 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after buying an additional 21,041 shares during the last quarter. Finally, Meritage Portfolio Management raised its stake in shares of Bristol-Myers Squibb by 1,874.9% during the 3rd quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company’s stock worth $5,602,000 after acquiring an additional 102,782 shares in the last quarter. Institutional investors own 76.41% 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. 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.