Bristol-Myers Squibb Company (BMY) Upgraded to “Strong-Buy” at Vetr Inc.
Vetr upgraded shares of Bristol-Myers Squibb Company (NYSE:BMY) from a buy rating to a strong-buy rating in a report released on Wednesday. Vetr currently has $64.33 price objective on the biopharmaceutical company’s stock.
BMY has been the topic of several other research reports. Jefferies Group LLC restated a buy rating and set a $64.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, June 5th. BidaskClub upgraded shares of Bristol-Myers Squibb from a hold rating to a buy rating in a report on Tuesday, June 27th. Robert W. Baird initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 25th. They issued an outperform rating for the company. Deutsche Bank AG set a $55.00 target price on shares of Bristol-Myers Squibb and gave the company a hold rating in a report on Monday, July 17th. Finally, BMO Capital Markets reiterated a market perform rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, April 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Bristol-Myers Squibb presently has an average rating of Hold and an average target price of $63.32.
Shares of Bristol-Myers Squibb (NYSE BMY) opened at 55.27 on Wednesday. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $76.30. The firm has a market capitalization of $91.05 billion, a price-to-earnings ratio of 20.19 and a beta of 1.17. The company’s 50 day moving average is $55.41 and its 200-day moving average is $54.55. Bristol-Myers Squibb also was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 29,818 call options on the stock. This represents an increase of approximately 149% compared to the typical daily volume of 11,985 call options.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 31.95%. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb will post $2.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.82%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 56.73%.
Several institutional investors have recently added to or reduced their stakes in the stock. American National Bank raised its position in Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 508 shares during the period. Welch Investments LLC raised its position in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 79 shares during the period. Crestwood Advisors Group LLC purchased a new position in Bristol-Myers Squibb during the first quarter worth approximately $116,000. Blue Chip Partners Inc. raised its position in Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 17 shares during the period. Finally, Proficio Capital Partners LLC raised its position in Bristol-Myers Squibb by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 504 shares during the period. Institutional investors own 69.72% of the company’s stock.
Bristol-Myers Squibb Company Profile
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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