Bristol-Myers Squibb (NYSE:BMY) Coverage Initiated at Wolfe Research

Investment analysts at Wolfe Research initiated coverage on shares of Bristol-Myers Squibb (NYSE:BMY) in a report issued on Friday, MarketBeat.com reports. The brokerage set a “peer perform” rating on the biopharmaceutical company’s stock.

BMY has been the subject of several other reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. BMO Capital Markets increased their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. 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 note on Tuesday, November 12th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Price Performance

BMY stock opened at $56.22 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $114.02 billion, a P/E ratio of -15.66, a PEG ratio of 15.83 and a beta of 0.44. The business has a 50 day simple moving average of $52.73 and a 200-day simple moving average of $47.23. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08.

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

Insider Buying and Selling at Bristol-Myers Squibb

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

Institutional Trading of Bristol-Myers Squibb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Bristol-Myers Squibb by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after purchasing an additional 1,036,495 shares during the last quarter. 3Chopt Investment Partners LLC boosted its position in Bristol-Myers Squibb by 10.9% during the third quarter. 3Chopt Investment Partners LLC now owns 50,279 shares of the biopharmaceutical company’s stock worth $2,601,000 after acquiring an additional 4,940 shares during the last quarter. Frisch Financial Group Inc. purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $213,000. Prestige Wealth Management Group LLC raised its holdings in Bristol-Myers Squibb by 25.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 28,375 shares of the biopharmaceutical company’s stock valued at $1,468,000 after acquiring an additional 5,670 shares during the last quarter. Finally, Abel Hall LLC lifted its stake in shares of Bristol-Myers Squibb by 42.0% during the 3rd quarter. Abel Hall LLC now owns 17,402 shares of the biopharmaceutical company’s stock worth $900,000 after purchasing an additional 5,143 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.