Bristol-Myers Squibb Company (BMY) Earns Hold Rating from Cowen and Company

Bristol-Myers Squibb Company (NYSE:BMY)‘s stock had its “hold” rating restated by analysts at Cowen and Company in a report issued on Tuesday. They currently have a $65.00 price objective on the biopharmaceutical company’s stock. Cowen and Company’s price target points to a potential upside of 3.67% from the stock’s current price.

A number of other research firms have also weighed in on BMY. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $65.00 price objective (up from $62.00) on shares of Bristol-Myers Squibb in a research note on Thursday, September 7th. Vetr lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $64.20 price objective for the company. in a research note on Thursday, September 7th. Credit Suisse Group reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Friday, September 8th. Jefferies Group LLC lifted their price objective on shares of Bristol-Myers Squibb from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, September 11th. Finally, Hilliard Lyons lowered shares of Bristol-Myers Squibb from a “long-term buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $62.66.

Shares of Bristol-Myers Squibb (NYSE BMY) opened at 62.70 on Tuesday. The company has a market capitalization of $102.82 billion, a PE ratio of 22.90 and a beta of 1.18. The company has a 50 day moving average price of $58.77 and a 200 day moving average price of $55.98. Bristol-Myers Squibb has a 52 week low of $46.01 and a 52 week high of $63.47.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the business earned $0.69 EPS. Bristol-Myers Squibb’s revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts expect that Bristol-Myers Squibb will post $2.98 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be read at https://www.chaffeybreeze.com/2017/09/19/bristol-myers-squibb-company-bmy-earns-hold-rating-from-cowen-and-company.html.

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were bought at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the transaction, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the completion of the transaction, the senior vice president now owns 46,297 shares in the company, valued at approximately $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of BMY. Renaissance Technologies LLC raised its position in Bristol-Myers Squibb by 108.5% in the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after purchasing an additional 7,020,200 shares during the period. Franklin Resources Inc. raised its position in Bristol-Myers Squibb by 185.2% in the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after purchasing an additional 3,960,191 shares during the period. Janus Henderson Group PLC raised its position in Bristol-Myers Squibb by 2,990.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after purchasing an additional 3,516,536 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Bristol-Myers Squibb by 42,071.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after purchasing an additional 3,323,649 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Bristol-Myers Squibb by 18.7% in the 1st quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock worth $845,504,000 after purchasing an additional 2,451,390 shares during the period. Institutional investors own 68.88% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

Receive News & Ratings for Bristol-Myers Squibb Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply