Jefferies Group LLC Reaffirms Buy Rating for Bristol-Myers Squibb Company (BMY)

Jefferies Group LLC reaffirmed their buy rating on shares of Bristol-Myers Squibb Company (NYSE:BMY) in a report released on Wednesday morning. The firm currently has a $63.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms have also issued reports on BMY. Vetr raised Bristol-Myers Squibb from a sell rating to a hold rating and set a $57.15 target price on the stock in a report on Tuesday, March 14th. BMO Capital Markets reissued a market perform rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a report on Sunday, April 23rd. BidaskClub raised Bristol-Myers Squibb from a hold rating to a buy rating in a report on Tuesday, June 27th. Cowen and Company set a $65.00 target price on Bristol-Myers Squibb and gave the company a hold rating in a report on Monday, July 10th. Finally, William Blair reissued an outperform rating on shares of Bristol-Myers Squibb in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Bristol-Myers Squibb currently has a consensus rating of Hold and an average target price of $62.61.

Bristol-Myers Squibb (NYSE BMY) traded down 0.40% during midday trading on Wednesday, reaching $54.93. The company’s stock had a trading volume of 1,595,959 shares. The stock has a market cap of $90.49 billion, a P/E ratio of 19.08 and a beta of 1.16. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $77.12. The stock’s 50 day moving average is $54.58 and its 200 day moving average is $55.03.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 27th. The biopharmaceutical company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.12. The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.75 billion. Bristol-Myers Squibb had a return on equity of 31.86% and a net margin of 24.22%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Analysts anticipate that Bristol-Myers Squibb will post $2.95 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a yield of 2.83%. Bristol-Myers Squibb’s payout ratio is 54.17%.

A number of hedge funds have recently bought and sold shares of BMY. Dodge & Cox bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $1,316,815,000. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $770,318,000. Ameriprise Financial Inc. increased its stake in shares of Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after buying an additional 2,451,390 shares in the last quarter. Swiss National Bank increased its stake in shares of Bristol-Myers Squibb by 27.2% in the first quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock valued at $322,020,000 after buying an additional 1,267,900 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Bristol-Myers Squibb by 1.8% in the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after buying an additional 1,223,457 shares in the last quarter. Institutional investors own 69.63% of the company’s stock.

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.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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