Bristol-Myers Squibb Company (BMY) Rating Lowered to Buy at Vetr Inc.

Bristol-Myers Squibb Company (NYSE:BMY) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday. They currently have a $63.81 price objective on the biopharmaceutical company’s stock. Vetr‘s price objective indicates a potential upside of 11.17% from the company’s previous close.

Several other equities analysts have also recently issued reports on BMY. Jefferies Group LLC reiterated a “buy” rating and set a $64.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, June 5th. BidaskClub upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Deutsche Bank AG set a $55.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Monday, July 17th. Piper Jaffray Companies set a $60.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Thursday, July 27th. Finally, Cowen and Company set a $65.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.67.

Bristol-Myers Squibb (BMY) traded up 0.86% during midday trading on Wednesday, reaching $57.40. The company had a trading volume of 7,675,555 shares. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $64.77. The firm’s 50-day moving average price is $55.55 and its 200 day moving average price is $54.50. The firm has a market capitalization of $94.13 billion, a PE ratio of 20.96 and a beta of 1.17.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. Equities analysts anticipate that Bristol-Myers Squibb will post $2.97 earnings per share for the current fiscal year.

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In other news, Director Theodore R. Samuels II acquired 6,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $55.94 per share, with a total value of $335,640.00. Following the acquisition, the director now owns 18,000 shares in the company, valued at $1,006,920. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Chip Partners Inc. boosted its stake in Bristol-Myers Squibb by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 15 shares in the last quarter. Keel Point LLC boosted its stake in Bristol-Myers Squibb by 0.3% in the first quarter. Keel Point LLC now owns 6,286 shares of the biopharmaceutical company’s stock worth $342,000 after buying an additional 18 shares in the last quarter. Staley Capital Advisers Inc. boosted its stake in Bristol-Myers Squibb by 0.3% in the first quarter. Staley Capital Advisers Inc. now owns 6,962 shares of the biopharmaceutical company’s stock worth $379,000 after buying an additional 24 shares in the last quarter. Shayne & CO. LLC boosted its stake in Bristol-Myers Squibb by 0.6% in the second quarter. Shayne & CO. LLC now owns 4,041 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 24 shares in the last quarter. Finally, Chilton Investment Co. LLC boosted its stake in Bristol-Myers Squibb by 0.5% in the second quarter. Chilton Investment Co. LLC now owns 5,283 shares of the biopharmaceutical company’s stock worth $294,000 after buying an additional 26 shares in the last quarter. 69.79% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Company Profile

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.

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

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