Bristol-Myers Squibb (NYSE:BMY) Rating Increased to Outperform at Daiwa Capital Markets

Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a neutral rating to an outperform rating in a research note published on Wednesday, MarketBeat.com reports.

BMY has been the subject of a number of other research reports. Morgan Stanley boosted their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Citigroup lifted their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, TD Cowen upped their price target 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 investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $56.22 on Wednesday. The firm has a market cap of $114.02 billion, a P/E ratio of -15.66, a PEG ratio of 15.83 and a beta of 0.44. 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 has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The stock’s 50-day moving average is $52.73 and its two-hundred day moving average is $47.23.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the previous year, the company earned $2.00 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. Analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of 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 represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently made changes to their positions in BMY. Capital International Investors increased its holdings in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after buying an additional 8,675,322 shares in the last quarter. M&G Plc acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at $392,608,000. Price T Rowe Associates Inc. MD raised its position in Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares during the last quarter. FMR LLC boosted its stake in Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Bristol-Myers Squibb by 86.3% during the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after purchasing an additional 3,495,704 shares during the last quarter. Institutional investors and hedge funds 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.