Bristol-Myers Squibb (NYSE:BMY) Upgraded at Leerink Partnrs

Leerink Partnrs upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s FY2026 earnings at $6.32 EPS, FY2027 earnings at $6.72 EPS and FY2028 earnings at $6.60 EPS.

Several other research analysts also recently weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Citigroup boosted their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday. TD Cowen raised their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $73.00 in a report on Tuesday. Finally, UBS Group raised their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $1.22 on Tuesday, hitting $57.28. The company’s stock had a trading volume of 2,161,983 shares, compared to its average volume of 14,377,174. The stock has a 50 day moving average of $52.58 and a 200-day moving average of $47.15. The company has a market capitalization of $116.17 billion, a price-to-earnings ratio of -15.92, a price-to-earnings-growth ratio of 15.83 and a beta of 0.44. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

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

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Atomi Financial Group Inc. acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $231,000. TD Asset Management Inc increased its holdings in Bristol-Myers Squibb by 2.7% in the first quarter. TD Asset Management Inc now owns 1,648,245 shares of the biopharmaceutical company’s stock valued at $89,384,000 after buying an additional 42,682 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in Bristol-Myers Squibb by 3.7% during the first quarter. HBK Sorce Advisory LLC now owns 32,578 shares of the biopharmaceutical company’s stock valued at $1,767,000 after buying an additional 1,159 shares in the last quarter. Wintrust Investments LLC lifted its holdings in Bristol-Myers Squibb by 9.7% during the 1st quarter. Wintrust Investments LLC now owns 39,652 shares of the biopharmaceutical company’s stock worth $2,150,000 after buying an additional 3,515 shares during the last quarter. Finally, TCTC Holdings LLC grew its position in shares of Bristol-Myers Squibb by 0.9% in the 1st quarter. TCTC Holdings LLC now owns 443,544 shares of the biopharmaceutical company’s stock worth $24,053,000 after acquiring an additional 3,909 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.