Bristol-Myers Squibb (BMY) Downgraded by Vetr

Bristol-Myers Squibb (NYSE:BMY) was downgraded by stock analysts at Vetr from a “hold” rating to a “sell” rating in a report issued on Monday. They presently have a $60.72 price objective on the biopharmaceutical company’s stock. Vetr‘s price objective points to a potential downside of 4.05% from the stock’s previous close.

A number of other research analysts have also recently weighed in on BMY. BMO Capital Markets reiterated a “sell” rating on shares of Bristol-Myers Squibb in a report on Monday. Zacks Investment Research upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Friday. Jefferies Group restated a “buy” rating and set a $72.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, September 27th. Piper Jaffray Companies restated a “hold” rating and set a $60.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 27th. Finally, Citigroup boosted their price objective on Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $65.11.

Shares of Bristol-Myers Squibb (NYSE:BMY) traded up $1.00 during trading on Monday, reaching $63.28. The company had a trading volume of 6,747,874 shares, compared to its average volume of 6,030,000. Bristol-Myers Squibb has a 52-week low of $46.01 and a 52-week high of $66.10. The firm has a market capitalization of $103,570.00, a PE ratio of 24.91, a P/E/G ratio of 2.16 and a beta of 1.18. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the previous year, the business posted $0.77 EPS. Bristol-Myers Squibb’s revenue was up 6.7% compared to the same quarter last year. analysts predict that Bristol-Myers Squibb will post 2.99 EPS for the current fiscal year.

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 4,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost of $62.30 per share, with a total value of $249,200.00. Following the completion of the transaction, the director now owns 22,000 shares in the company, valued at $1,370,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of Bristol-Myers Squibb stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total value of $335,172.00. Following the sale, the executive vice president now directly owns 9,251 shares in the company, valued at $585,033.24. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Howard Capital Management increased its position in shares of Bristol-Myers Squibb by 0.5% during the fourth quarter. Howard Capital Management now owns 176,010 shares of the biopharmaceutical company’s stock worth $10,786,000 after acquiring an additional 804 shares during the last quarter. Cornerstone Financial Partners LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $260,000. Cornerstone Investment Partners LLC increased its position in shares of Bristol-Myers Squibb by 100.0% during the fourth quarter. Cornerstone Investment Partners LLC now owns 19,168 shares of the biopharmaceutical company’s stock worth $1,175,000 after acquiring an additional 9,584 shares during the last quarter. Patten & Patten Inc. TN increased its position in shares of Bristol-Myers Squibb by 5.5% during the fourth quarter. Patten & Patten Inc. TN now owns 176,814 shares of the biopharmaceutical company’s stock worth $10,835,000 after acquiring an additional 9,251 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Bristol-Myers Squibb by 11.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 44,579 shares of the biopharmaceutical company’s stock worth $2,731,000 after acquiring an additional 4,569 shares during the last quarter. 69.75% of the stock is currently owned by institutional investors and hedge funds.

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About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

To view Vetr’s full report, visit Vetr’s official website.

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

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