Bristol-Myers Squibb’s (BMY) Neutral Rating Reaffirmed at Bank of America

Bank of America reiterated their neutral rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage currently has a $63.00 price target on the biopharmaceutical company’s stock.

Several other brokerages have also commented on BMY. Citigroup raised their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. TD Cowen lifted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $54.29.

Bristol-Myers Squibb Trading Down 0.7 %

NYSE:BMY opened at $56.28 on Tuesday. The firm has a market capitalization of $114.15 billion, a P/E ratio of -15.78, a P/E/G ratio of 15.93 and a beta of 0.45. The business has a 50 day simple moving average of $55.78 and a 200 day simple moving average of $49.12. 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 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly 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. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently made changes to their positions in BMY. Lantz Financial LLC raised its stake in shares of Bristol-Myers Squibb by 17.4% in the 2nd quarter. Lantz Financial LLC now owns 11,799 shares of the biopharmaceutical company’s stock valued at $490,000 after buying an additional 1,747 shares in the last quarter. ORG Partners LLC boosted its holdings in Bristol-Myers Squibb by 785.9% during the second quarter. ORG Partners LLC now owns 11,464 shares of the biopharmaceutical company’s stock valued at $473,000 after purchasing an additional 10,170 shares in the last quarter. PGGM Investments grew its stake in shares of Bristol-Myers Squibb by 4.0% in the 2nd quarter. PGGM Investments now owns 107,179 shares of the biopharmaceutical company’s stock valued at $4,451,000 after purchasing an additional 4,114 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Bristol-Myers Squibb by 10.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 206,709 shares of the biopharmaceutical company’s stock worth $8,585,000 after buying an additional 18,741 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its position in shares of Bristol-Myers Squibb by 11.1% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 17,093 shares of the biopharmaceutical company’s stock worth $710,000 after buying an additional 1,701 shares during the period. 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.