Bristol-Myers Squibb (NYSE:BMY) Upgraded to "Strong-Buy" at Daiwa America

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) was upgraded by equities research analysts at Daiwa America from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

BMY has been the subject of several other reports. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a "market perform" rating and a $56.00 target price for the company. Jefferies Financial Group raised their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Morgan Stanley upped their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a report on Tuesday. Citigroup boosted their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, UBS Group increased their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $54.07.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded down $2.28 during trading hours on Wednesday, reaching $56.22. 20,905,621 shares of the stock traded hands, compared to its average volume of 14,461,604. The company has a 50 day moving average price of $52.58 and a 200 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 quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $114.02 billion, a price-to-earnings ratio of -15.81, a P/E/G ratio of 15.83 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its 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. The business had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 earnings per share. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Insider Activity at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now directly 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 currently owned by insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently bought and sold shares of the company. 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. Graypoint LLC lifted its holdings in Bristol-Myers Squibb by 29.4% during the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company's stock worth $584,000 after buying an additional 2,563 shares during the period. Xponance Inc. boosted its position in Bristol-Myers Squibb by 8.8% during the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company's stock valued at $13,181,000 after acquiring an additional 25,543 shares in the last quarter. Plato Investment Management Ltd increased its holdings in shares of Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company's stock valued at $4,317,000 after acquiring an additional 21,041 shares during the period. Finally, Meritage Portfolio Management increased its holdings in shares of Bristol-Myers Squibb by 1,874.9% in the 3rd quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company's stock valued at $5,602,000 after acquiring an additional 102,782 shares during the period. 76.41% of the stock is 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.