Bristol Myers Squibb (NYSE:BMY) Rating Increased to Buy at UBS Group

Bristol Myers Squibb (NYSE:BMY) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday,Finviz reports. The brokerage currently has a $65.00 price target on the biopharmaceutical company’s stock. UBS Group’s price target would suggest a potential upside of 19.38% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a report on Wednesday. Guggenheim reaffirmed a “buy” rating on shares of Bristol Myers Squibb in a report on Tuesday, December 23rd. Truist Financial set a $65.00 price objective on Bristol Myers Squibb in a report on Wednesday, December 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $57.00 price target (up previously from $51.00) on shares of Bristol Myers Squibb in a report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.46.

Bristol Myers Squibb Trading Up 2.6%

Shares of NYSE BMY opened at $54.45 on Wednesday. Bristol Myers Squibb has a 1-year low of $42.52 and a 1-year high of $63.33. The business has a fifty day moving average price of $50.24 and a 200 day moving average price of $47.61. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. The stock has a market capitalization of $110.84 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 8.82 and a beta of 0.29.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.11. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities research analysts expect that Bristol Myers Squibb will post 6.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Gateway Investment Advisers LLC grew its stake in Bristol Myers Squibb by 10.0% during the 3rd quarter. Gateway Investment Advisers LLC now owns 113,457 shares of the biopharmaceutical company’s stock worth $5,117,000 after buying an additional 10,284 shares during the last quarter. Commonwealth Retirement Investments LLC boosted its holdings in shares of Bristol Myers Squibb by 24.6% during the second quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock valued at $2,740,000 after acquiring an additional 11,690 shares during the period. Norges Bank bought a new position in shares of Bristol Myers Squibb during the second quarter worth about $1,554,154,000. Wealth Quarterback LLC increased its holdings in shares of Bristol Myers Squibb by 42.6% in the 2nd quarter. Wealth Quarterback LLC now owns 25,443 shares of the biopharmaceutical company’s stock worth $1,178,000 after acquiring an additional 7,603 shares during the period. Finally, CWA Asset Management Group LLC lifted its position in Bristol Myers Squibb by 25.9% in the 3rd quarter. CWA Asset Management Group LLC now owns 150,359 shares of the biopharmaceutical company’s stock valued at $6,781,000 after purchasing an additional 30,909 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.