Citigroup Lowers Bristol-Myers Squibb (NYSE:BMY) to Neutral

Bristol-Myers Squibb (NYSE:BMY) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, FinViz reports. They presently have a $55.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $75.00. Citigroup’s target price would indicate a potential upside of 3.93% from the stock’s current price.

Several other equities research analysts also recently issued reports on BMY. UBS Group upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Barclays upped their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. TD Cowen upped their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $53.31.

Bristol-Myers Squibb Trading Down 0.3 %

Shares of Bristol-Myers Squibb stock opened at $52.92 on Friday. The stock has a fifty day simple moving average of $50.63 and a 200 day simple moving average of $46.39. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.77. The company has a market capitalization of $107.27 billion, a P/E ratio of -17.07, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $11.54 billion. During the same quarter in the prior year, the company posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently added to or reduced their stakes in the stock. ESL Trust Services LLC purchased a new stake in Bristol-Myers Squibb during the 1st quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth about $34,000. LGT Financial Advisors LLC lifted its holdings in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $47,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

About Bristol-Myers Squibb

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.