Bristol-Myers Squibb (BMY) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from an equal weight rating to an overweight rating in a research report report published on Thursday. The brokerage currently has $78.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $51.56.

Several other brokerages also recently weighed in on BMY. Credit Suisse Group reaffirmed a hold rating and set a $61.00 target price (up from $58.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 27th. Piper Jaffray Companies reiterated a hold rating and set a $60.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 27th. Leerink Swann boosted their price target on shares of Bristol-Myers Squibb from $61.00 to $72.00 and gave the stock an outperform rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a sell rating to a hold rating in a report on Friday, January 19th. Finally, Vetr cut shares of Bristol-Myers Squibb from a hold rating to a sell rating and set a $60.72 price target for the company. in a report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $66.73.

Shares of Bristol-Myers Squibb (NYSE BMY) traded down $0.17 on Thursday, reaching $68.81. 6,025,192 shares of the company traded hands, compared to its average volume of 8,854,347. Bristol-Myers Squibb has a 1 year low of $51.56 and a 1 year high of $70.05. The stock has a market cap of $113,540.00, a P/E ratio of 29.35, a P/E/G ratio of 2.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.46 and a current ratio of 1.55.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 35.43%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. research analysts predict that Bristol-Myers Squibb will post 3.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, January 5th were issued a $0.40 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. Bristol-Myers Squibb’s dividend payout ratio is presently 67.80%.

In other news, EVP Sandra Leung sold 156,582 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 available at this link. Also, Director Theodore R. Samuels II bought 4,000 shares of the stock in a transaction dated Friday, December 15th. The stock was bought at an average price of $62.30 per share, with a total value of $249,200.00. Following the acquisition, the director now owns 22,000 shares in the company, valued at approximately $1,370,600. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Blue Chip Partners Inc. boosted its stake in Bristol-Myers Squibb by 0.7% during the 2nd quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 15 shares during the period. Jackson Grant Investment Advisers Inc. boosted its stake in Bristol-Myers Squibb by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the biopharmaceutical company’s stock worth $218,000 after purchasing an additional 15 shares during the period. Chilton Investment Co. LLC boosted its stake in Bristol-Myers Squibb by 0.5% during the 2nd quarter. Chilton Investment Co. LLC now owns 5,283 shares of the biopharmaceutical company’s stock worth $294,000 after purchasing an additional 26 shares during the period. Keel Point LLC boosted its stake in Bristol-Myers Squibb by 0.6% during the 2nd quarter. Keel Point LLC now owns 6,325 shares of the biopharmaceutical company’s stock worth $352,000 after purchasing an additional 39 shares during the period. Finally, Hudock Capital Group LLC boosted its stake in Bristol-Myers Squibb by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 11,775 shares of the biopharmaceutical company’s stock worth $656,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 69.56% of the company’s stock.

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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)

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