ValuEngine Downgrades Bristol-Myers Squibb (NYSE:BMY) to Strong Sell

Bristol-Myers Squibb (NYSE:BMY) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, ValuEngine reports.

Other research analysts have also issued reports about the company. Goldman Sachs Group started coverage on Bristol-Myers Squibb in a report on Tuesday, May 28th. They set a “buy” rating and a $54.00 target price on the stock. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, May 7th. Argus lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price on the stock. in a report on Monday, May 20th. UBS Group lowered their target price on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, June 13th. Finally, BMO Capital Markets lifted their target price on Bristol-Myers Squibb to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.34.

Shares of BMY opened at $46.56 on Tuesday. The firm has a market capitalization of $76.35 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 2.17 and a beta of 0.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.79. Bristol-Myers Squibb has a one year low of $44.30 and a one year high of $63.69. The company’s fifty day simple moving average is $46.79.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a return on equity of 48.72% and a net margin of 22.23%. Bristol-Myers Squibb’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. On average, research analysts expect that Bristol-Myers Squibb will post 4.2 earnings per share for the current fiscal year.

In related news, Director Theodore R. Samuels II purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average price of $47.29 per share, with a total value of $236,450.00. Following the purchase, the director now owns 27,000 shares of the company’s stock, valued at approximately $1,276,830. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karen Murphy Santiago sold 3,065 shares of Bristol-Myers Squibb stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $47.56, for a total value of $145,771.40. Following the completion of the transaction, the insider now directly owns 3,066 shares in the company, valued at approximately $145,818.96. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of BMY. Advisors Asset Management Inc. lifted its position in Bristol-Myers Squibb by 141.9% during the fourth quarter. Advisors Asset Management Inc. now owns 62,135 shares of the biopharmaceutical company’s stock valued at $3,230,000 after acquiring an additional 36,445 shares during the last quarter. Portfolio Solutions LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $37,000. Intrust Bank NA lifted its position in Bristol-Myers Squibb by 9.1% during the fourth quarter. Intrust Bank NA now owns 18,087 shares of the biopharmaceutical company’s stock valued at $940,000 after acquiring an additional 1,502 shares during the last quarter. Mackenzie Financial Corp lifted its position in Bristol-Myers Squibb by 84.6% during the fourth quarter. Mackenzie Financial Corp now owns 226,857 shares of the biopharmaceutical company’s stock valued at $11,792,000 after acquiring an additional 103,988 shares during the last quarter. Finally, Trust Co. of Virginia VA lifted its position in Bristol-Myers Squibb by 105.7% during the fourth 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 during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Company Profile

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

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