Bristol-Myers Squibb (NYSE:BMY) Upgraded to Outperform at Leerink Partners

Bristol-Myers Squibb (NYSE:BMY) was upgraded by analysts at Leerink Partners from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm currently has a $73.00 target price on the biopharmaceutical company’s stock. Leerink Partners’ target price points to a potential upside of 22.03% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. UBS Group lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets lifted their target price on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $54.54.

Bristol-Myers Squibb Trading Up 10.5 %

Shares of Bristol-Myers Squibb stock opened at $59.82 on Tuesday. The firm has a market capitalization of $121.33 billion, a PE ratio of -16.66, a P/E/G ratio of 20.09 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The firm’s 50-day moving average price is $52.07 and its 200 day moving average price is $46.89. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

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, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period last year, the company posted $2.00 EPS. Bristol-Myers Squibb’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction that occurred 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 acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Large investors have recently modified their holdings of the stock. Atomi Financial Group Inc. purchased a new position in Bristol-Myers Squibb in the first quarter worth $231,000. Avantax Advisory Services Inc. raised its position in Bristol-Myers Squibb by 3.5% in the first quarter. Avantax Advisory Services Inc. now owns 69,961 shares of the biopharmaceutical company’s stock worth $3,794,000 after acquiring an additional 2,336 shares in the last quarter. TD Asset Management Inc grew 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 purchasing an additional 42,682 shares during the last quarter. Souders Financial Advisors acquired a new stake in Bristol-Myers Squibb in the first quarter valued at $370,000. Finally, TBH Global Asset Management LLC grew its holdings in Bristol-Myers Squibb by 10.4% in the first quarter. TBH Global Asset Management LLC now owns 9,656 shares of the biopharmaceutical company’s stock valued at $524,000 after purchasing an additional 906 shares during the last quarter. Hedge funds and other institutional investors 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.