Bristol-Myers Squibb (NYSE:BMY) shares rise 2.7% on analyst upgrade

Shares of Bristol-Myers Squibb (NYSE:BMY – Get Free Report ) traded up 2.7% during mid-day trading on Wednesday, after Jefferies Financial Group upped their target price on the stock from $49.00 at $51.00. Jefferies Financial Group currently has a hold rating on the stock. Bristol-Myers Squibb traded as high as $49.70 and last traded at $49.42. About 1,792,854 shares were traded mid-day, down 88% from the average daily volume of 15,484,390 shares. Shares previously closed at $48.12.

A number of other analysts have recently issued reports on BMY. Barclays lifted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $54.67, based on data from MarketBeat.

Check out the latest stock analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Institutional Trading

Several large investors have recently made changes to their positions in BMY. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the first quarter valued at about $27,000. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb in the 4th quarter valued at about $27,000. Pacific Capital Wealth Advisors Inc. bought a new position in Bristol-Myers Squibb in the 4th quarter valued at about $34,000. LGT Financial Advisors LLC boosted its position in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares in the last quarter. Finally, Fairman Group LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 76.41% of the company’s shares.

Bristol-Myers Squibb stock rose 2.0%

The company has a market cap of $99.45 billion, a price-to-earnings ratio of -15.83, a P/E/G ratio of 12.51 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16, and a quick ratio of 0.99. The company’s fifty day moving average price is $44.67 and its 200 day moving average price is $46.55.

Bristol-Myers Squibb (NYSE:BMY – Get Your Free Report ) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. In the same quarter last year, the firm earned $1.75 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. sell-side analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb announces dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date was Friday, July 5. This represents an annualized dividend of $2.40 and a yield of 4.89%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

About Bristol-Myers Squibb

(Get a free report)

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. The company’s products include Eliquis for reducing the risk of stroke/systemic embolism in non-valvular atrial fibrillation and for the treatment of DVT/PE; Opdivo for various anticancer 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.

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