Bristol-Myers Squibb (NYSE:BMY) Stock Rating Lowered by StockNews.com

Bristol-Myers Squibb (NYSE:BMY) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

Several other equities analysts have also recently commented on the company. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. BMO Capital Markets cut their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Barclays reduced their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Up 0.0 %

Bristol-Myers Squibb stock opened at $41.53 on Thursday. Bristol-Myers Squibb has a 1-year low of $39.63 and a 1-year high of $65.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The stock has a market cap of $84.19 billion, a PE ratio of -13.40, a P/E/G ratio of 14.54 and a beta of 0.43. The stock’s fifty day moving average is $42.97 and its two-hundred day moving average is $48.16.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the company posted $2.05 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several hedge funds have recently added to or reduced their stakes in the stock. Northwest Financial Advisors acquired a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $27,000. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb in the first quarter worth about $27,000. Accordant Advisory Group Inc purchased a new position in Bristol-Myers Squibb in the first quarter worth $31,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Company Profile

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.