Vetr upgraded shares of Bristol-Myers Squibb Company (NYSE:BMY) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning. The firm currently has $62.23 target price on the biopharmaceutical company’s stock.
Several other analysts also recently weighed in on BMY. Cowen and Company set a $65.00 price target on shares of Bristol-Myers Squibb and gave the company a hold rating in a research note on Monday, July 10th. William Blair reaffirmed an outperform rating on shares of Bristol-Myers Squibb in a research note on Monday, June 26th. BidaskClub raised shares of Bristol-Myers Squibb from a hold rating to a buy rating in a research note on Tuesday, June 27th. Jefferies Group LLC reaffirmed a buy rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Wednesday, July 12th. Finally, BMO Capital Markets reaffirmed a market perform rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, April 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $62.61.
Bristol-Myers Squibb (BMY) traded down 0.49% on Wednesday, hitting $54.88. The company’s stock had a trading volume of 1,528,404 shares. The firm has a market cap of $90.41 billion, a price-to-earnings ratio of 19.06 and a beta of 1.16. The firm has a 50 day moving average of $54.58 and a 200 day moving average of $55.03. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 27th. The biopharmaceutical company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Bristol-Myers Squibb had a net margin of 24.22% and a return on equity of 31.86%. The firm had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. Equities research analysts forecast that Bristol-Myers Squibb will post $2.95 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 54.17%.
Large investors have recently made changes to their positions in the stock. American National Bank raised its stake in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 508 shares during the period. Welch Investments LLC raised its stake in shares of Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 79 shares during the period. Crestwood Advisors Group LLC bought a new stake in shares of Bristol-Myers Squibb during the first quarter worth $116,000. Blue Chip Partners Inc. raised its stake in shares of Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 17 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in shares of Bristol-Myers Squibb by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 504 shares during the period. 69.63% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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