Bristol-Myers Squibb (NYSE:BMY) Rating Increased to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) from a hold rating to a buy rating in a research note released on Monday, MarketBeat reports. Jefferies Financial Group currently has $70.00 price target on the biopharmaceutical company's stock, up from their prior price target of $63.00.

Other equities research analysts also recently issued research reports about the company. UBS Group increased their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. BMO Capital Markets upped their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a "market perform" rating in a report on Tuesday, November 12th. TD Cowen lifted their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. Citigroup upped their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $55.64.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded up $0.09 during trading on Monday, hitting $55.87. The stock had a trading volume of 15,868,181 shares, compared to its average volume of 14,050,433. The business has a fifty day moving average of $55.86 and a two-hundred day moving average of $49.40. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The firm has a market cap of $113.31 billion, a P/E ratio of -15.54, a PEG ratio of 15.20 and a beta of 0.45. 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 posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the firm posted $2.00 EPS. The business's revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb's payout ratio is presently -69.08%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb 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 value 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. The trade was a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently bought and sold shares of the company. Reston Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth $25,000. Hollencrest Capital Management boosted its position in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb during the third quarter valued at about $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 549 shares during the period. 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.