Jefferies Group Reaffirms Hold Rating for Bristol-Myers Squibb Co. (BMY)

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Bristol-Myers Squibb Co. (NYSE:BMY)‘s stock had its “hold” rating reissued by equities research analysts at Jefferies Group in a report issued on Monday. They presently have a $57.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $69.00. Jefferies Group’s target price would indicate a potential upside of 2.52% from the stock’s previous close.
Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Wednesday, July 13th. Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Vetr raised shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective on the stock in a report on Monday, July 25th. SunTrust Banks Inc. downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $86.00 to $68.00 in a report on Friday, August 5th. Finally, Citigroup Inc. dropped their price objective on shares of Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $69.91.
Bristol-Myers Squibb (NYSE:BMY) traded down 0.66% during trading on Monday, reaching $55.60. 12,082,897 shares of the company traded hands. Bristol-Myers Squibb has a 52 week low of $55.02 and a 52 week high of $77.12. The company has a market capitalization of $92.90 billion, a P/E ratio of 32.51 and a beta of 0.61. The firm has a 50-day moving average price of $62.43 and a 200-day moving average price of $67.98.

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Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. Bristol-Myers Squibb’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. Analysts forecast that Bristol-Myers Squibb will post $2.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 87.36%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wills Financial Group Inc. raised its position in shares of Bristol-Myers Squibb by 0.3% in the second quarter. Wills Financial Group Inc. now owns 3,509 shares of the biopharmaceutical company’s stock valued at $258,000 after buying an additional 10 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in shares of Bristol-Myers Squibb by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,353 shares of the biopharmaceutical company’s stock valued at $173,000 after buying an additional 12 shares during the period. TRUE Private Wealth Advisors raised its position in shares of Bristol-Myers Squibb by 0.3% in the second quarter. TRUE Private Wealth Advisors now owns 5,377 shares of the biopharmaceutical company’s stock valued at $395,000 after buying an additional 15 shares during the period. Bruderman Asset Management LLC raised its position in shares of Bristol-Myers Squibb by 0.4% in the second quarter. Bruderman Asset Management LLC now owns 4,258 shares of the biopharmaceutical company’s stock valued at $313,000 after buying an additional 15 shares during the period. Finally, Stillwater Investment Management LLC raised its position in shares of Bristol-Myers Squibb by 0.5% in the second quarter. Stillwater Investment Management LLC now owns 3,467 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 16 shares during the period. 72.95% of the stock is owned by institutional investors.
Bristol-Myers Squibb Company Profile
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.

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