Bristol-Myers Squibb (BMY) Downgraded by Vetr to “Hold”

Bristol-Myers Squibb (NYSE:BMY) was downgraded by analysts at Vetr from a "buy" rating to a "hold" rating in a note issued to investors on Friday. They currently have a $59.70 target price on the biopharmaceutical company’s stock. Vetr‘s price target suggests a potential downside of 2.07% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Jefferies Group restated a "buy" rating and set a $72.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, September 27th. Cowen restated a "hold" rating and set a $65.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, September 19th. Piper Jaffray Companies restated a "hold" rating and set a $60.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Hilliard Lyons downgraded Bristol-Myers Squibb from a "long-term buy" rating to a "neutral" rating and set a $65.00 price objective on the stock. in a research report on Tuesday, September 12th. Finally, Credit Suisse Group reiterated a "hold" rating on shares of Bristol-Myers Squibb in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of "Hold" and a consensus target price of $64.42.

Bristol-Myers Squibb  traded down $0.54 during trading hours on Friday, hitting $60.96. The company had a trading volume of 5,470,719 shares, compared to its average volume of 8,303,741. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $100,166.05, a P/E ratio of 24.00, a P/E/G ratio of 2.32 and a beta of 1.18. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $66.10.

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

In related news, 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 approximately $585,033.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Theodore R. Samuels II acquired 4,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average price of $62.30 per share, for a total transaction of $249,200.00. Following the completion of the acquisition, the director now owns 22,000 shares in the company, valued at approximately $1,370,600. The disclosure for this purchase can be found here. 0.23% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of BMY. Blue Chip Partners Inc. raised its position in shares of Bristol-Myers Squibb by 0.7% during the 2nd quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 15 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in Bristol-Myers Squibb by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the biopharmaceutical company’s stock valued at $218,000 after purchasing an additional 15 shares during the period. Chilton Investment Co. LLC raised its position in Bristol-Myers Squibb by 0.5% in the second quarter. Chilton Investment Co. LLC now owns 5,283 shares of the biopharmaceutical company’s stock valued at $294,000 after purchasing an additional 26 shares during the period. Greenleaf Trust raised its position in Bristol-Myers Squibb by 0.4% in the second quarter. Greenleaf Trust now owns 9,608 shares of the biopharmaceutical company’s stock valued at $535,000 after purchasing an additional 39 shares during the period. Finally, Keel Point LLC raised its position in Bristol-Myers Squibb by 0.6% in the second quarter. Keel Point LLC now owns 6,325 shares of the biopharmaceutical company’s stock valued at $352,000 after purchasing an additional 39 shares during the period. Institutional investors own 69.66% of the company’s stock.

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.