StockNews.com Lowers Bristol-Myers Squibb (NYSE:BMY) to Buy

Bristol-Myers Squibb (NYSE:BMY) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

Other analysts also recently issued reports about the stock. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays reduced their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, BMO Capital Markets reduced their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $41.53 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The company has a fifty day simple moving average of $42.97 and a 200 day simple moving average of $48.16. The company has a market cap of $84.19 billion, a P/E ratio of -13.40, a P/E/G ratio of 14.54 and a beta of 0.43. Bristol-Myers Squibb has a 1 year low of $39.63 and a 1 year high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the prior year, the firm earned $2.05 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BMY. Northwest Financial Advisors bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $27,000. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb in the first quarter worth $27,000. Accordant Advisory Group Inc bought a new stake in shares of Bristol-Myers Squibb in the first quarter worth $31,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $40,000. 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.