Bristol-Myers Squibb (NYSE:BMY) Now Covered by Analysts at Wolfe Research

Equities researchers at Wolfe Research started coverage on shares of Bristol-Myers Squibb (NYSE:BMY) in a report issued on Friday, MarketBeat reports. The firm set a “peer perform” rating on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. TD Cowen boosted their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Jefferies Financial Group raised their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $73.00 in a report on Tuesday. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Up 0.1 %

Shares of NYSE BMY opened at $58.49 on Friday. The firm has a 50 day moving average price of $52.41 and a 200 day moving average price of $47.07. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock has a market cap of $118.63 billion, a P/E ratio of -16.29, a P/E/G ratio of 15.83 and a beta of 0.44. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.00 EPS. Analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

Hedge funds have recently modified their holdings of the business. Meridian Management Co. raised its holdings in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after acquiring an additional 182 shares in the last quarter. Hollencrest Capital Management increased its position in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the period. Mayflower Financial Advisors LLC raised its holdings in Bristol-Myers Squibb by 2.3% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 192 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its position in shares of Bristol-Myers Squibb by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

About Bristol-Myers Squibb

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.