Bristol-Myers Squibb (BMY) Downgraded by Argus

Bristol-Myers Squibb (NYSE:BMY) was downgraded by Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, The Fly reports.

Other research analysts also recently issued research reports about the company. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, March 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $59.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, February 19th. Credit Suisse Group reaffirmed a “hold” rating and set a $59.00 target price on shares of Bristol-Myers Squibb in a report on Friday, February 15th. Bank of America reduced their target price on Bristol-Myers Squibb from $53.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, February 19th. Finally, ValuEngine raised Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a report on Saturday, May 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $57.64.

Shares of NYSE BMY opened at $46.85 on Monday. Bristol-Myers Squibb has a fifty-two week low of $44.30 and a fifty-two week high of $63.69. The company has a quick ratio of 1.79, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a market cap of $76.63 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 2.19 and a beta of 0.77.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Bristol-Myers Squibb had a return on equity of 48.72% and a net margin of 22.23%. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the firm earned $0.94 EPS. Bristol-Myers Squibb’s quarterly revenue was up 14.0% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb will post 4.18 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc raised its stake in Bristol-Myers Squibb by 5.9% during the 4th quarter. Legal & General Group Plc now owns 8,568,445 shares of the biopharmaceutical company’s stock valued at $445,300,000 after acquiring an additional 474,820 shares in the last quarter. Chescapmanager LLC raised its stake in Bristol-Myers Squibb by 22.1% during the 4th quarter. Chescapmanager LLC now owns 361,755 shares of the biopharmaceutical company’s stock valued at $18,804,000 after acquiring an additional 65,367 shares in the last quarter. Phocas Financial Corp. bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at $73,000. CSat Investment Advisory L.P. raised its stake in Bristol-Myers Squibb by 13.6% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,135 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 255 shares in the last quarter. Finally, Trust Co. of Virginia VA raised its stake in Bristol-Myers Squibb by 105.7% during the 4th quarter. Trust Co. of Virginia VA now owns 50,048 shares of the biopharmaceutical company’s stock valued at $2,601,000 after acquiring an additional 25,712 shares in the last quarter. 74.09% 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. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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