Goldman Sachs Group Inc. lowered shares of Bristol-Myers Squibb Co. (NYSE:BMY) from a strong-buy rating to a buy rating in a research report released on Thursday morning. Goldman Sachs Group Inc. currently has $75.00 price objective on the biopharmaceutical company’s stock.
Other equities analysts have also issued research reports about the company. SunTrust Banks Inc. lowered Bristol-Myers Squibb from a buy rating to a neutral rating and reduced their price objective for the company from $86.00 to $68.00 in a research note on Friday, August 5th. Morgan Stanley lowered Bristol-Myers Squibb from an overweight rating to an equal weight rating and set a $63.00 price target for the company. in a research note on Friday, August 5th. Deutsche Bank AG restated a hold rating on shares of Bristol-Myers Squibb in a research note on Wednesday, June 15th. Berenberg Bank restated a buy rating on shares of Bristol-Myers Squibb in a research note on Tuesday, July 12th. Finally, Vetr upgraded Bristol-Myers Squibb from a sell rating to a buy rating and set a $78.73 price target for the company in a research note on Monday, July 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of Hold and an average price target of $69.31.
Bristol-Myers Squibb (NYSE:BMY) traded up 0.30% during midday trading on Thursday, hitting $50.39. The stock had a trading volume of 1,826,219 shares. Bristol-Myers Squibb has a 12-month low of $49.12 and a 12-month high of $77.12. The company has a market cap of $84.19 billion, a PE ratio of 29.47 and a beta of 0.74. The firm has a 50-day moving average of $55.34 and a 200-day moving average of $66.40.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The business earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The company’s revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. Equities research analysts forecast that Bristol-Myers Squibb will post $2.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 87.36%.
In other news, Director Lamberto Andreotti sold 23,200 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $59.17, for a total transaction of $1,372,744.00. Following the sale, the director now owns 364,999 shares of the company’s stock, valued at $21,596,990.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock valued at $8,057,758,000 after buying an additional 3,595,648 shares during the period. Bank of Montreal Can acquired a new position in Bristol-Myers Squibb during the second quarter valued at approximately $154,732,000. Sustainable Growth Advisers LP raised its position in Bristol-Myers Squibb by 1,957.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,402,482 shares of the biopharmaceutical company’s stock valued at $103,153,000 after buying an additional 1,334,303 shares during the period. Jarislowsky Fraser Ltd raised its position in Bristol-Myers Squibb by 240.6% in the second quarter. Jarislowsky Fraser Ltd now owns 1,885,751 shares of the biopharmaceutical company’s stock valued at $100,571,000 after buying an additional 1,332,163 shares during the period. Finally, WestEnd Advisors LLC acquired a new position in Bristol-Myers Squibb during the second quarter valued at approximately $94,956,000. 72.88% of the stock is currently owned by institutional investors and hedge funds.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
Receive News & Ratings for Bristol-Myers Squibb Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb Co. and related companies with MarketBeat.com's FREE daily email newsletter.