Wall Street Zen Upgrades Bristol Myers Squibb (NYSE:BMY) to “Strong-Buy”

Bristol Myers Squibb (NYSE:BMY) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Other analysts also recently issued reports about the company. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Finally, Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb Stock Up 0.2%

Shares of NYSE BMY opened at $46.74 on Friday. Bristol Myers Squibb has a 1 year low of $42.52 and a 1 year high of $63.33. The firm has a 50-day simple moving average of $45.25 and a two-hundred day simple moving average of $46.68. The company has a market cap of $95.14 billion, a P/E ratio of 18.85, a PEG ratio of 2.23 and a beta of 0.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the prior year, the firm posted $1.80 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Research analysts anticipate that Bristol Myers Squibb will post 6.74 earnings per share for the current year.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bristol Myers Squibb

Several hedge funds have recently added to or reduced their stakes in the business. Trifecta Capital Advisors LLC purchased a new position in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $25,000. Accent Capital Management LLC acquired a new stake in Bristol Myers Squibb during the 1st quarter valued at $33,000. Darwin Wealth Management LLC purchased a new position in Bristol Myers Squibb during the second quarter worth $25,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 231 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Bristol Myers Squibb in the first quarter valued at $36,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.