Bristol-Myers Squibb (NYSE:BMY) Upgraded 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 report released on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $73.00 price target on the biopharmaceutical company’s stock. Leerink Partners’ price objective would suggest a potential upside of 22.03% from the company’s current price.

Several other equities analysts have also recently issued reports on BMY. TD Cowen upped their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Barclays raised their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target on the stock. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.54.

Bristol-Myers Squibb Trading Up 10.5 %

NYSE BMY opened at $59.82 on Tuesday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. 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 stock has a 50-day moving average of $52.07 and a 200-day moving average of $46.89. The firm has a market cap of $121.33 billion, a PE ratio of -16.66, a price-to-earnings-growth ratio of 20.09 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its 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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the prior year, the business earned $2.00 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current year.

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 stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred 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 owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were acquired 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 of the company’s stock, valued at approximately $3,395,499.03. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of large investors have recently made changes to their positions in BMY. Atomi Financial Group Inc. acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth about $231,000. Avantax Advisory Services Inc. boosted its stake in shares of Bristol-Myers Squibb by 3.5% during the 1st 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 boosted its stake in shares of Bristol-Myers Squibb by 2.7% during the 1st quarter. TD Asset Management Inc now owns 1,648,245 shares of the biopharmaceutical company’s stock worth $89,384,000 after acquiring an additional 42,682 shares in the last quarter. Souders Financial Advisors purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth about $370,000. Finally, TBH Global Asset Management LLC boosted its stake in shares of Bristol-Myers Squibb by 10.4% during the 1st quarter. TBH Global Asset Management LLC now owns 9,656 shares of the biopharmaceutical company’s stock worth $524,000 after acquiring an additional 906 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

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.