Bristol-Myers Squibb (NYSE:BMY) Raised to “Outperform” at Daiwa Capital Markets

Bristol-Myers Squibb (NYSE:BMY) was upgraded by investment analysts at Daiwa Capital Markets from a “neutral” rating to an “outperform” rating in a report issued on Wednesday,Briefing.com Automated Import reports.

BMY has been the topic of a number of other reports. BMO Capital Markets raised their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on 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. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Stock Down 0.2 %

Shares of Bristol-Myers Squibb stock traded down $0.13 during midday trading on Wednesday, hitting $58.89. The company had a trading volume of 650,431 shares, compared to its average volume of 14,397,781. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock has a market capitalization of $119.44 billion, a P/E ratio of -16.38, a P/E/G ratio of 21.63 and a beta of 0.44. The company has a 50 day moving average of $52.24 and a 200 day moving average of $46.99. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08.

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

Insider Buying and Selling at Bristol-Myers Squibb

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 206 shares during the period. Graypoint LLC raised its holdings in shares of Bristol-Myers Squibb by 29.4% in the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after purchasing an additional 2,563 shares in the last quarter. Xponance Inc. raised 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 worth $13,181,000 after purchasing an additional 25,543 shares in the last quarter. Plato Investment Management Ltd raised its holdings 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 purchasing an additional 21,041 shares in the last quarter. Finally, Meritage Portfolio Management raised its holdings in shares of Bristol-Myers Squibb by 1,874.9% in the 3rd quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company’s stock worth $5,602,000 after purchasing an additional 102,782 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

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.