Bristol-Myers Squibb (NYSE:BMY) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research began coverage on shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) in a research report report published on Friday, MarketBeat reports. The brokerage issued a peer perform rating on the biopharmaceutical company's stock.

Several other analysts also recently issued reports on BMY. Leerink Partnrs upgraded Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Daiwa America upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. TD Cowen increased their target price 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. Finally, Citigroup lifted their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned 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 an average price target of $54.07.

Bristol-Myers Squibb Stock Performance

BMY stock traded down $2.26 during midday trading on Friday, reaching $56.24. 18,344,061 shares of the company were exchanged, compared to its average volume of 14,441,087. The firm has a market capitalization of $114.06 billion, a price-to-earnings ratio of -15.81, a price-to-earnings-growth ratio of 15.83 and a beta of 0.44. The business has a 50-day moving average price of $52.58 and a two-hundred day moving average price of $47.15. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the business earned $2.00 EPS. Bristol-Myers Squibb's quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.27%. Bristol-Myers Squibb's payout ratio is presently -66.85%.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of the firm's stock in a transaction on Monday, November 4th. The stock was 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 $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company's stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently added to or reduced their stakes in the stock. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb during the third quarter worth $25,000. Hollencrest Capital Management boosted its position in shares of 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 in the last quarter. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb during the first quarter worth approximately $27,000. Kennebec Savings Bank acquired a new position in Bristol-Myers Squibb in the third quarter valued at approximately $28,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $29,000. 76.41% of the stock is currently owned by institutional investors.

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.