Bristol-Myers Squibb’s (BMY) “Buy” Rating Reaffirmed at William Blair

William Blair reissued their buy rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a report released on Friday, AnalystRatings.com reports. William Blair also issued estimates for Bristol-Myers Squibb’s Q4 2019 earnings at $1.40 EPS, FY2019 earnings at $4.89 EPS, Q1 2020 earnings at $1.50 EPS, Q2 2020 earnings at $1.54 EPS, Q3 2020 earnings at $1.58 EPS, Q4 2020 earnings at $1.55 EPS, FY2020 earnings at $6.17 EPS, FY2021 earnings at $7.23 EPS, FY2022 earnings at $7.27 EPS and FY2023 earnings at $7.50 EPS.

Other analysts have also issued reports about the stock. Wolfe Research set a $66.00 price objective on shares of Bristol-Myers Squibb and gave the company a buy rating in a report on Friday, November 1st. UBS Group upped their target price on shares of Bristol-Myers Squibb from $51.00 to $53.00 and gave the company a neutral rating in a research report on Wednesday, October 23rd. ValuEngine raised shares of Bristol-Myers Squibb from a strong sell rating to a sell rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. set a $62.00 price target on shares of Bristol-Myers Squibb and gave the company a buy rating in a research report on Friday, September 13th. Finally, TheStreet raised shares of Bristol-Myers Squibb from a c+ rating to a b- rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $60.75.

BMY stock traded down $0.12 during midday trading on Friday, hitting $63.82. 14,526,440 shares of the company’s stock were exchanged, compared to its average volume of 28,137,558. The business has a 50-day simple moving average of $57.85 and a two-hundred day simple moving average of $50.21. The company has a current ratio of 3.83, a quick ratio of 3.72 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $101.68 billion, a PE ratio of 16.04, a P/E/G ratio of 1.45 and a beta of 0.70. Bristol-Myers Squibb has a 1-year low of $42.48 and a 1-year high of $64.21.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.11. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.89 billion. Bristol-Myers Squibb had a return on equity of 45.49% and a net margin of 23.53%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 EPS. As a group, research analysts expect that Bristol-Myers Squibb will post 4.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be paid a dividend of $0.45 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.80 annualized dividend and a yield of 2.82%. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.

In related news, SVP John E. Elicker sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $56.66, for a total transaction of $849,900.00. Following the sale, the senior vice president now directly owns 74,471 shares of the company’s stock, valued at approximately $4,219,526.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Louis S. Schmukler sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $56.56, for a total transaction of $1,414,000.00. Following the sale, the insider now owns 31,963 shares in the company, valued at $1,807,827.28. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Cypress Capital Management LLC increased its holdings in Bristol-Myers Squibb by 21.2% during the 2nd quarter. Cypress Capital Management LLC now owns 154,335 shares of the biopharmaceutical company’s stock worth $6,999,000 after purchasing an additional 26,990 shares during the period. National Pension Service increased its stake in shares of Bristol-Myers Squibb by 6.0% during the second quarter. National Pension Service now owns 1,693,877 shares of the biopharmaceutical company’s stock worth $76,817,000 after buying an additional 96,363 shares during the period. Canada Pension Plan Investment Board raised its holdings in Bristol-Myers Squibb by 9.3% in the second quarter. Canada Pension Plan Investment Board now owns 2,930,835 shares of the biopharmaceutical company’s stock valued at $132,913,000 after acquiring an additional 248,935 shares in the last quarter. Financial Advantage Inc. raised its holdings in Bristol-Myers Squibb by 0.7% in the third quarter. Financial Advantage Inc. now owns 73,601 shares of the biopharmaceutical company’s stock valued at $3,732,000 after acquiring an additional 487 shares in the last quarter. Finally, Harborview Advisors LLC acquired a new stake in Bristol-Myers Squibb in the second quarter valued at approximately $277,000. 83.13% of the stock is owned by institutional investors.

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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