Bristol-Myers Squibb (BMY) Downgraded by Vetr to Sell

Vetr cut shares of Bristol-Myers Squibb (NYSE:BMY) from a hold rating to a sell rating in a report issued on Tuesday. Vetr currently has $60.72 price target on the biopharmaceutical company’s stock.

A number of other research firms have also issued reports on BMY. UBS Group reissued a buy rating and set a $72.00 price target (up previously from $62.00) on shares of Bristol-Myers Squibb in a report on Friday, October 6th. Zacks Investment Research lowered Bristol-Myers Squibb from a buy rating to a hold rating in a report on Thursday, November 2nd. Citigroup raised their price target on Bristol-Myers Squibb to $72.00 and gave the stock a buy rating in a report on Wednesday, October 18th. BMO Capital Markets set a $49.00 price target on Bristol-Myers Squibb and gave the stock a sell rating in a report on Thursday, October 12th. Finally, Barclays raised their price target on Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an equal weight rating in a report on Friday, October 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $65.11.

Bristol-Myers Squibb (NYSE:BMY) traded up $1.16 on Tuesday, hitting $61.08. The stock had a trading volume of 4,504,391 shares, compared to its average volume of 6,789,090. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46. Bristol-Myers Squibb has a twelve month low of $46.01 and a twelve month high of $66.10. The firm has a market capitalization of $100,150.00, a PE ratio of 24.05, a P/E/G ratio of 2.30 and a beta of 1.18.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter last year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. equities research analysts forecast that Bristol-Myers Squibb will post 2.99 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be given a $0.40 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 62.99%.

In other news, EVP Sandra Leung sold 156,582 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $63.37, for a total value of $9,922,601.34. Following the sale, the executive vice president now owns 584,373 shares in the company, valued at approximately $37,031,717.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total transaction of $335,172.00. Following the completion of the sale, the executive vice president now owns 9,251 shares in the company, valued at approximately $585,033.24. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Bristol-Myers Squibb by 0.3% during the second quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after acquiring an additional 333,685 shares during the period. BlackRock Inc. raised its stake in Bristol-Myers Squibb by 2.4% during the second quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after acquiring an additional 2,367,864 shares during the period. Dodge & Cox raised its stake in Bristol-Myers Squibb by 1.6% during the second quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after acquiring an additional 459,271 shares during the period. Jennison Associates LLC raised its stake in Bristol-Myers Squibb by 16.2% during the third quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after acquiring an additional 3,735,453 shares during the period. Finally, Northern Trust Corp raised its stake in Bristol-Myers Squibb by 3.9% during the second quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock worth $1,339,612,000 after acquiring an additional 910,496 shares during the period. Institutional investors and hedge funds own 69.74% of the company’s stock.

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Bristol-Myers Squibb Company Profile

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)

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