Cowen and Company reiterated their hold rating on shares of Bristol-Myers Squibb Company (NYSE:BMY) in a report released on Tuesday. Cowen and Company currently has a $65.00 price target on the biopharmaceutical company’s stock.
Several other research firms have also recently issued reports on BMY. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and set a $65.00 price objective (up from $62.00) on shares of Bristol-Myers Squibb in a research report on Thursday, September 7th. Vetr cut Bristol-Myers Squibb from a buy rating to a hold rating and set a $64.20 price objective for the company. in a research report on Thursday, September 7th. Credit Suisse Group reaffirmed a hold rating on shares of Bristol-Myers Squibb in a research report on Friday, September 8th. Jefferies Group LLC upped their price objective on Bristol-Myers Squibb from $66.00 to $72.00 and gave the stock a buy rating in a research report on Monday, September 11th. Finally, Hilliard Lyons cut Bristol-Myers Squibb from a long-term buy rating to a neutral rating and set a $65.00 price objective for the company. in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $62.20.
Shares of Bristol-Myers Squibb (BMY) opened at 63.36 on Tuesday. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $63.55. The company has a market cap of $103.91 billion, a P/E ratio of 23.14 and a beta of 1.18. The company’s 50-day moving average price is $58.94 and its 200-day moving average price is $56.02.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. Equities analysts forecast that Bristol-Myers Squibb will post $2.98 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.56 dividend on an annualized basis and a yield of 2.46%. Bristol-Myers Squibb’s payout ratio is 56.73%.
In related news, Director Theodore R. Samuels II acquired 6,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was bought at an average cost of $55.94 per share, with a total value of $335,640.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at $1,006,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph C. Caldarella sold 9,340 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the sale, the senior vice president now directly owns 46,297 shares of the company’s stock, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of BMY. Toronto Dominion Bank raised its stake in shares of Bristol-Myers Squibb by 54.0% during the 1st quarter. Toronto Dominion Bank now owns 464,591 shares of the biopharmaceutical company’s stock worth $25,264,000 after buying an additional 162,884 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Bristol-Myers Squibb by 1.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 201,037 shares of the biopharmaceutical company’s stock worth $10,932,000 after buying an additional 3,833 shares in the last quarter. Meridian Management Co. raised its stake in shares of Bristol-Myers Squibb by 1.5% during the 1st quarter. Meridian Management Co. now owns 51,770 shares of the biopharmaceutical company’s stock worth $2,815,000 after buying an additional 770 shares in the last quarter. Quantitative Investment Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $6,150,000. Finally, Tobam raised its stake in shares of Bristol-Myers Squibb by 124.5% during the 1st quarter. Tobam now owns 793,714 shares of the biopharmaceutical company’s stock worth $43,163,000 after buying an additional 440,170 shares in the last quarter. 68.88% of the stock is owned by institutional investors.
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.
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