Bristol-Myers Squibb (NYSE:BMY) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a strong-buy rating to a buy rating in a research report report published on Monday morning.

BMY has been the subject of several other reports. Wells Fargo & Company dropped their price target on Bristol-Myers Squibb from $58.00 to $51.00 and set an equal weight rating for the company in a research report on Tuesday, February 6th. Redburn Atlantic cut Bristol-Myers Squibb from a buy rating to a neutral rating and dropped their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Bank of America cut Bristol-Myers Squibb from a buy rating to a neutral rating and dropped their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. William Blair restated a market perform rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Societe Generale cut Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $61.18.

Bristol-Myers Squibb Trading Up 1.0 %

Shares of NYSE:BMY opened at $48.30 on Monday. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $70.93. The company has a market capitalization of $97.89 billion, a PE ratio of 12.51, a PEG ratio of 1.49 and a beta of 0.39. The business has a 50 day moving average of $51.25 and a two-hundred day moving average of $51.57. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 earnings per share. As a group, analysts forecast that Bristol-Myers Squibb will post 6.47 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.97%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several large investors have recently bought and sold shares of BMY. Dakota Wealth Management purchased a new stake in Bristol-Myers Squibb during the 1st quarter worth about $332,000. Covestor Ltd increased its holdings in shares of Bristol-Myers Squibb by 111.5% in the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 1,082 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 53.2% in the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after acquiring an additional 57,444 shares during the last quarter. Ergoteles LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $1,997,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Bristol-Myers Squibb by 25.1% in the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after acquiring an additional 68,018 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.