Bristol-Myers Squibb (BMY) Rating Lowered to Equal Weight at Morgan Stanley

Bristol-Myers Squibb (NYSE:BMY) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $58.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $54.08. Morgan Stanley’s price target indicates a potential upside of 10.90% from the company’s previous close.

Several other equities research analysts have also issued reports on BMY. Vetr lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $59.70 price target on the stock. in a research note on Friday, December 22nd. Zacks Investment Research lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. BMO Capital Markets reiterated a “sell” rating and issued a $52.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, January 22nd. Credit Suisse Group set a $62.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Leerink Swann lifted their price target on shares of Bristol-Myers Squibb from $71.00 to $76.00 and gave the company a “positive” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $64.51.

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Shares of NYSE:BMY opened at $52.30 on Tuesday. Bristol-Myers Squibb has a 12 month low of $51.56 and a 12 month high of $70.05. The company has a current ratio of 1.55, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59. The firm has a market cap of $85,514.70, a P/E ratio of 17.38, a P/E/G ratio of 1.37 and a beta of 0.96.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Monday, February 5th. The biopharmaceutical company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 35.43%. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the business posted $0.63 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. research analysts predict that Bristol-Myers Squibb will post 3.22 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Keel Point LLC boosted its holdings in shares of Bristol-Myers Squibb by 0.6% during the 2nd quarter. Keel Point LLC now owns 6,325 shares of the biopharmaceutical company’s stock worth $352,000 after buying an additional 39 shares during the period. Intellectus Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 2.1% during the 2nd quarter. Intellectus Partners LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 80 shares during the period. Verition Fund Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 1.0% during the 2nd quarter. Verition Fund Management LLC now owns 8,190 shares of the biopharmaceutical company’s stock worth $456,000 after buying an additional 80 shares during the period. Balentine LLC boosted its holdings in shares of Bristol-Myers Squibb by 2.1% during the 2nd quarter. Balentine LLC now owns 12,736 shares of the biopharmaceutical company’s stock worth $710,000 after buying an additional 267 shares during the period. Finally, Segment Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 4.2% during the 2nd quarter. Segment Wealth Management LLC now owns 6,818 shares of the biopharmaceutical company’s stock worth $380,000 after buying an additional 274 shares during the period. 71.51% of the stock is owned by institutional investors.

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About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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

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