Investment Analysts’ Weekly Ratings Updates for Bristol-Myers Squibb (BMY)

A number of firms have modified their ratings and price targets on shares of Bristol-Myers Squibb (NYSE: BMY) recently:

  • 2/13/2024 – Bristol-Myers Squibb was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
  • 2/6/2024 – Bristol-Myers Squibb was downgraded by analysts at Redburn Atlantic from a “buy” rating to a “neutral” rating. They now have a $54.00 price target on the stock, down previously from $77.00.
  • 2/6/2024 – Bristol-Myers Squibb had its price target lowered by analysts at Wells Fargo & Company from $58.00 to $51.00. They now have an “equal weight” rating on the stock.
  • 2/5/2024 – Bristol-Myers Squibb was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
  • 1/3/2024 – Bristol-Myers Squibb was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $60.00 price target on the stock, down previously from $68.00.
  • 12/27/2023 – Bristol-Myers Squibb had its price target lowered by analysts at Bank of America Co. from $72.00 to $68.00. They now have a “buy” rating on the stock.

Bristol-Myers Squibb Price Performance

BMY stock opened at $49.75 on Tuesday. The firm has a 50 day moving average of $50.52 and a 200-day moving average of $54.58. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $73.47. The firm has a market capitalization of $101.23 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.53 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released 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. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.33%. The company had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. During the same period last year, the business earned $1.82 earnings per share. Bristol-Myers Squibb’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.52 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.82%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, January 4th. Bristol-Myers Squibb’s payout ratio is presently 62.18%.

Insider Buying and Selling

In other news, CEO Christopher S. Boerner bought 3,071 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were bought at an average cost of $48.86 per share, with a total value of $150,049.06. Following the completion of the purchase, the chief executive officer now directly owns 79,384 shares in the company, valued at $3,878,702.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Theodore R. Samuels II acquired 8,500 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 20th. The shares were acquired at an average cost of $49.81 per share, with a total value of $423,385.00. Following the transaction, the director now owns 35,500 shares in the company, valued at $1,768,255. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Christopher S. Boerner acquired 3,071 shares of Bristol-Myers Squibb stock in a transaction on Tuesday, November 28th. The shares were bought at an average cost of $48.86 per share, for a total transaction of $150,049.06. Following the completion of the transaction, the chief executive officer now owns 79,384 shares in the company, valued at approximately $3,878,702.24. The disclosure for this purchase can be found here. Insiders have bought a total of 13,571 shares of company stock valued at $672,994 over the last three months. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BMY. Brown Shipley& Co Ltd grew its position in shares of Bristol-Myers Squibb by 1.8% in the 2nd quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 164 shares during the period. Chesapeake Wealth Management grew its position in shares of Bristol-Myers Squibb by 0.8% in the 2nd quarter. Chesapeake Wealth Management now owns 21,243 shares of the biopharmaceutical company’s stock worth $1,359,000 after buying an additional 177 shares during the period. Riversedge Advisors LLC grew its position in shares of Bristol-Myers Squibb by 3.2% in the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 178 shares during the period. Vicus Capital grew its position in shares of Bristol-Myers Squibb by 3.9% in the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after buying an additional 179 shares during the period. Finally, Ascent Wealth Partners LLC grew its position in shares of Bristol-Myers Squibb by 3.1% in the 2nd quarter. Ascent Wealth Partners LLC now owns 6,147 shares of the biopharmaceutical company’s stock worth $393,000 after buying an additional 182 shares during the period. 74.98% of the stock is owned by hedge funds and other institutional investors.

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, 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

Further Reading

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