Bristol-Myers Squibb (NYSE:BMY) Lowered to “Market Perform” at Raymond James

Bristol-Myers Squibb (NYSE:BMY – Get Rating) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Friday, The Fly reports. The analysts noted that the move was a valuation call.

BMY has been the topic of a number of other research reports. StockNews.com initiated coverage on Bristol-Myers Squibb in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 26th. Barclays increased their price objective on shares of Bristol-Myers Squibb from $66.00 to $68.00 in a research report on Monday, May 2nd. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 17th. Finally, Truist Financial increased their price target on shares of Bristol-Myers Squibb from $76.00 to $81.00 in a report on Monday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $73.70.

BMY traded down $0.13 during trading on Friday, hitting $74.94. 253,262 shares of the company traded hands, compared to its average volume of 14,590,688. The company has a current ratio of 1.32, a quick ratio of 1.23 and a debt-to-equity ratio of 1.18. The company has a market cap of $159.55 billion, a PE ratio of 26.59, a P/E/G ratio of 1.59 and a beta of 0.49. The stock’s 50-day simple moving average is $75.97 and its two-hundred day simple moving average is $68.08. Bristol-Myers Squibb has a 1 year low of $53.22 and a 1 year high of $78.61.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last released its quarterly earnings data on Friday, April 29th. The biopharmaceutical company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.92 by $0.04. Bristol-Myers Squibb had a net margin of 13.31% and a return on equity of 48.37%. The business had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $11.34 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb will post 7.57 EPS for the current year.

In related news, EVP Rupert Vessey sold 74,559 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $69.25, for a total value of $5,163,210.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Giovanni Caforio sold 25,000 shares of Bristol-Myers Squibb stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $71.52, for a total transaction of $1,788,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,668 shares of company stock valued at $9,449,888. 0.09% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Cahaba Wealth Management Inc. increased its holdings in Bristol-Myers Squibb by 2.5% during the 1st quarter. Cahaba Wealth Management Inc. now owns 5,391 shares of the biopharmaceutical company’s stock worth $405,000 after purchasing an additional 132 shares during the period. MV Capital Management Inc. grew its position in shares of Bristol-Myers Squibb by 10.7% during the 1st quarter. MV Capital Management Inc. now owns 1,391 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 135 shares in the last quarter. Sanders Morris Harris LLC increased its stake in shares of Bristol-Myers Squibb by 0.3% during the first quarter. Sanders Morris Harris LLC now owns 40,501 shares of the biopharmaceutical company’s stock valued at $2,958,000 after buying an additional 137 shares during the period. Bernardo Wealth Planning LLC raised its holdings in shares of Bristol-Myers Squibb by 4.3% in the first quarter. Bernardo Wealth Planning LLC now owns 3,389 shares of the biopharmaceutical company’s stock valued at $247,000 after acquiring an additional 139 shares in the last quarter. Finally, Providence Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 0.5% in the first quarter. Providence Wealth Advisors LLC now owns 27,047 shares of the biopharmaceutical company’s stock worth $1,997,000 after acquiring an additional 139 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Company Profile (Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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