Scotiabank Initiates Coverage on Bristol Myers Squibb (NYSE:BMY)

Equities researchers at Scotiabank began coverage on shares of Bristol Myers Squibb (NYSE:BMY) in a report issued on Thursday, MarketBeat reports. The firm set a “sector perform” rating and a $45.00 price target on the biopharmaceutical company’s stock. Scotiabank’s price objective indicates a potential downside of 3.57% from the company’s current price.

A number of other equities research analysts have also weighed in on BMY. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Finally, Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.58.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $46.67 on Thursday. The company has a 50 day moving average of $45.34 and a two-hundred day moving average of $46.70. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb has a twelve month low of $42.52 and a twelve month high of $63.33. The company has a market cap of $95.00 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the prior year, the business posted $1.80 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, analysts predict that Bristol Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the completion of the transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bristol Myers Squibb

Institutional investors and hedge funds have recently modified their holdings of the stock. Trifecta Capital Advisors LLC purchased a new position in Bristol Myers Squibb during the second quarter valued at approximately $25,000. Accent Capital Management LLC purchased a new position in shares of Bristol Myers Squibb during the 1st quarter valued at approximately $33,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Bristol Myers Squibb by 66.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 231 shares during the period. Finally, GKV Capital Management Co. Inc. purchased a new stake in Bristol Myers Squibb during the first quarter worth $36,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Company Profile

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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.