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

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

BMY has been the subject of a number of other reports. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Citigroup increased their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley increased their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Price Performance

NYSE BMY traded down $2.28 on Friday, reaching $56.22. The company’s stock had a trading volume of 21,259,228 shares, compared to its average volume of 14,463,189. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. 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 $114.02 billion, a PE ratio of -15.66, a PEG ratio of 15.83 and a beta of 0.44. The firm’s 50 day moving average is $52.73 and its two-hundred day moving average is $47.23.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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 company had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the firm earned $2.00 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.27%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction 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. This represents a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently made changes to their positions in BMY. Capital International Investors increased its stake in shares of Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after purchasing an additional 5,461,767 shares during the period. FMR LLC increased its position in Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Federated Hermes Inc. increased its position in Bristol-Myers Squibb by 86.3% in the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after purchasing an additional 3,495,704 shares during the period. Finally, Jennison Associates LLC increased its position in Bristol-Myers Squibb by 420.1% in the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after purchasing an additional 3,425,789 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.