Bristol-Myers Squibb (NYSE:BMY) Stock Rating Upgraded by Daiwa America

Daiwa America upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Barclays upped their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Citigroup upped their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Stock Down 3.0 %

Shares of BMY traded down $1.77 on Wednesday, hitting $56.73. 8,630,710 shares of the stock traded hands, compared to its average volume of 14,406,313. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The business has a 50 day simple moving average of $52.58 and a 200 day simple moving average of $47.15. The company has a market capitalization of $115.06 billion, a PE ratio of -15.81, a P/E/G ratio of 15.83 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its 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. The company had revenue of $11.89 billion for 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 revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.00 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.23%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the business’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 owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of large investors have recently bought and sold shares of the company. IHT Wealth Management LLC raised its position in Bristol-Myers Squibb by 7.9% during the 3rd quarter. IHT Wealth Management LLC now owns 60,627 shares of the biopharmaceutical company’s stock worth $3,156,000 after buying an additional 4,448 shares during the last quarter. Investment Management Corp of Ontario raised its position in Bristol-Myers Squibb by 49.2% during the 3rd quarter. Investment Management Corp of Ontario now owns 67,367 shares of the biopharmaceutical company’s stock worth $3,486,000 after buying an additional 22,200 shares during the last quarter. Janus Henderson Group PLC raised its position in Bristol-Myers Squibb by 695.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after buying an additional 3,107,672 shares during the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Bristol-Myers Squibb by 19.0% in the 3rd quarter. Hilltop Holdings Inc. now owns 37,416 shares of the biopharmaceutical company’s stock valued at $1,936,000 after purchasing an additional 5,987 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $936,000. 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.