Citigroup Downgrades Bristol-Myers Squibb (NYSE:BMY) to Neutral

Bristol-Myers Squibb (NYSE:BMY) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They currently have a $55.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $75.00. Citigroup’s price objective would indicate a potential upside of 5.93% from the stock’s previous close.

Several other research firms have also recently weighed in on BMY. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.31.

Bristol-Myers Squibb Trading Down 1.9 %

Shares of NYSE BMY opened at $51.92 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $55.29. The firm has a 50 day moving average price of $50.75 and a two-hundred day moving average price of $46.41. The stock has a market cap of $105.25 billion, a P/E ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the prior year, the company posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BMY. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter valued at about $27,000. LGT Financial Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Bristol-Myers Squibb during the third quarter valued at about $34,000. MFA Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the second quarter valued at about $39,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb during the second quarter valued at about $42,000. 76.41% of the stock is owned by institutional investors.

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.