Bristol-Myers Squibb (BMY) Downgraded by Vetr to Sell
Vetr lowered shares of Bristol-Myers Squibb (NYSE:BMY) from a hold rating to a sell rating in a research report sent to investors on Tuesday. Vetr currently has $60.72 target price on the biopharmaceutical company’s stock.
Other equities research analysts also recently issued research reports about the stock. SunTrust Banks upgraded shares of Bristol-Myers Squibb from a hold rating to a buy rating in a research report on Monday, October 30th. Citigroup set a $72.00 price target on shares of Bristol-Myers Squibb and gave the company a buy rating in a research report on Wednesday, October 25th. UBS Group restated a buy rating and issued a $72.00 price target (up previously from $62.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. Jefferies Group restated a buy rating and issued a $72.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, September 27th. Finally, Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a hold rating to a buy rating and set a $68.00 price target for the company in a research report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $65.11.
Shares of Bristol-Myers Squibb (BMY) traded up $1.16 during trading hours on Tuesday, reaching $61.08. 4,504,391 shares of the company were exchanged, compared to its average volume of 6,789,090. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $100,150.00, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.30 and a beta of 1.18. Bristol-Myers Squibb has a 1 year low of $46.01 and a 1 year high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. research analysts predict that Bristol-Myers Squibb will post 2.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.62%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.99%.
In other Bristol-Myers Squibb news, EVP Thomas J. Jr. Lynch sold 5,300 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total value of $335,172.00. Following the sale, the executive vice president now directly owns 9,251 shares in the company, valued at approximately $585,033.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sandra Leung sold 156,582 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the sale, the executive vice president now owns 584,373 shares in the company, valued at $37,031,717.01. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Several institutional investors have recently modified their holdings of BMY. BKD Wealth Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 6.8% during the 2nd quarter. BKD Wealth Advisors LLC now owns 15,483 shares of the biopharmaceutical company’s stock valued at $863,000 after acquiring an additional 981 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Bristol-Myers Squibb by 5.5% in the second quarter. First Hawaiian Bank now owns 6,283 shares of the biopharmaceutical company’s stock worth $350,000 after acquiring an additional 330 shares during the last quarter. Perkins Coie Trust Co raised its stake in shares of Bristol-Myers Squibb by 33.6% in the second quarter. Perkins Coie Trust Co now owns 3,084 shares of the biopharmaceutical company’s stock worth $172,000 after acquiring an additional 775 shares during the last quarter. City Holding Co. raised its stake in shares of Bristol-Myers Squibb by 23.6% in the second quarter. City Holding Co. now owns 40,390 shares of the biopharmaceutical company’s stock worth $2,251,000 after acquiring an additional 7,705 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its stake in shares of Bristol-Myers Squibb by 46.6% in the second quarter. Koshinski Asset Management Inc. now owns 8,869 shares of the biopharmaceutical company’s stock worth $494,000 after acquiring an additional 2,820 shares during the last quarter. Institutional investors and hedge funds own 69.74% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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