Bristol-Myers Squibb (NYSE:BMY) Now Covered by Wolfe Research

Wolfe Research assumed coverage on shares of Bristol-Myers Squibb (NYSE:BMY) in a note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “peer perform” rating on the biopharmaceutical company’s stock.

BMY has been the subject of several other research reports. Morgan Stanley raised their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Barclays lifted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday. Finally, TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Up 0.1 %

NYSE:BMY opened at $58.49 on Friday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a market capitalization of $118.63 billion, a PE ratio of -16.29, a P/E/G ratio of 15.83 and a beta of 0.44. The firm’s 50-day moving average price is $52.41 and its 200-day moving average price is $47.07. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $2.00 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Samit Hirawat acquired 1,830 shares of the 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 purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % 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 company insiders.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently bought and sold shares of BMY. Ascent Group LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter valued at about $1,668,000. Benjamin Edwards Inc. purchased a new position in Bristol-Myers Squibb during the 3rd quarter worth $5,962,000. Aureus Asset Management LLC bought a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $253,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth $1,251,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at $206,000. 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.