Bristol Myers Squibb (NYSE:BMY) Upgraded by Scotiabank to Hold Rating

Bristol Myers Squibb (NYSE:BMY) was upgraded by research analysts at Scotiabank to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Finally, Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $54.58.

Bristol Myers Squibb Stock Down 0.9%

Shares of NYSE BMY opened at $48.64 on Wednesday. The firm has a fifty day simple moving average of $45.35 and a two-hundred day simple moving average of $46.71. Bristol Myers Squibb has a 12 month low of $42.52 and a 12 month high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $99.02 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the company earned $1.80 earnings per share. Bristol Myers Squibb’s quarterly revenue was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities analysts expect that Bristol Myers Squibb will post 6.74 earnings per share for the current year.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bristol Myers Squibb

Several hedge funds and other institutional investors have recently modified their holdings of BMY. Beacon Investment Advisory Services Inc. grew its holdings in shares of Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock valued at $492,000 after acquiring an additional 212 shares in the last quarter. Exchange Capital Management Inc. grew its holdings in Bristol Myers Squibb by 0.4% during the 2nd quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock valued at $2,541,000 after buying an additional 220 shares in the last quarter. CVA Family Office LLC grew its position in shares of Bristol Myers Squibb by 2.6% during the 3rd quarter. CVA Family Office LLC now owns 8,959 shares of the biopharmaceutical company’s stock valued at $404,000 after purchasing an additional 223 shares in the last quarter. MSH Capital Advisors LLC raised its holdings in shares of Bristol Myers Squibb by 2.9% in the 3rd quarter. MSH Capital Advisors LLC now owns 8,034 shares of the biopharmaceutical company’s stock valued at $362,000 after acquiring an additional 223 shares in the last quarter. Finally, Parsons Capital Management Inc. RI raised its position in Bristol Myers Squibb by 0.3% during the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock valued at $3,615,000 after purchasing an additional 224 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Company Profile

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.