Bristol-Myers Squibb (NYSE:BMY) Given Overweight Rating at Cantor Fitzgerald

Bristol-Myers Squibb (NYSE:BMY)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a note issued to investors on Friday, Benzinga reports. They presently have a $75.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 26.43% from the stock’s current price.

Several other analysts have also commented on the company. HSBC began coverage on Bristol-Myers Squibb in a report on Friday, July 14th. They set a “reduce” rating and a $56.00 target price on the stock. Credit Suisse Group lowered their price target on Bristol-Myers Squibb from $72.00 to $66.00 in a research note on Wednesday, July 12th. BMO Capital Markets reduced their price objective on Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. SVB Leerink restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, July 10th. Finally, SVB Securities initiated coverage on Bristol-Myers Squibb in a research note on Monday, July 10th. They set a “market perform” rating and a $66.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.67.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of BMY traded down $0.17 during midday trading on Friday, reaching $59.32. 5,570,429 shares of the stock were exchanged, compared to its average volume of 8,860,889. Bristol-Myers Squibb has a 52 week low of $58.92 and a 52 week high of $81.43. The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 1.08. The company’s 50 day moving average is $61.78 and its two-hundred day moving average is $65.29. The company has a market capitalization of $123.93 billion, a P/E ratio of 15.75, a PEG ratio of 1.58 and a beta of 0.42.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $11.81 billion. During the same quarter last year, the company earned $1.93 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 7.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Robert M. Plenge sold 732 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total value of $44,754.48. Following the transaction, the executive vice president now directly owns 6,584 shares of the company’s stock, valued at approximately $402,545.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert M. Plenge sold 732 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total value of $44,754.48. Following the sale, the executive vice president now owns 6,584 shares of the company’s stock, valued at approximately $402,545.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now directly owns 27,868 shares in the company, valued at approximately $1,706,915. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cigna Investments Inc. New boosted its position in shares of Bristol-Myers Squibb by 0.5% during the fourth quarter. Cigna Investments Inc. New now owns 26,379 shares of the biopharmaceutical company’s stock worth $1,898,000 after buying an additional 141 shares during the period. Catalyst Financial Partners LLC increased its stake in shares of Bristol-Myers Squibb by 2.5% in the 1st quarter. Catalyst Financial Partners LLC now owns 6,001 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 145 shares during the last quarter. Keystone Wealth Services LLC increased its stake in shares of Bristol-Myers Squibb by 2.0% in the 1st quarter. Keystone Wealth Services LLC now owns 7,468 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 148 shares during the last quarter. Dillon & Associates Inc. grew its position in Bristol-Myers Squibb by 3.9% during the 1st quarter. Dillon & Associates Inc. now owns 3,955 shares of the biopharmaceutical company’s stock worth $245,000 after acquiring an additional 150 shares during the last quarter. Finally, Abbrea Capital LLC grew its position in Bristol-Myers Squibb by 1.5% during the 1st quarter. Abbrea Capital LLC now owns 10,025 shares of the biopharmaceutical company’s stock worth $695,000 after acquiring an additional 150 shares during the last quarter. 74.98% of the stock is owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

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.