Bristol Myers Squibb (NYSE:BMY) Downgraded to Hold Rating by Daiwa America

Key Points

• Bristol Myers Squibb was downgraded from a "strong-buy" to a "hold" rating by Daiwa America, indicating a shift in market sentiment regarding the stock.
• Other analysts have also adjusted their ratings, with Jefferies Financial Group lowering their target price from $70 to $68 while maintaining a "buy" rating.
• The company's recent quarterly earnings report showed an EPS of $1.46, which exceeded expectations, and revenue of $12.27 billion, indicating a year-over-year growth of 0.6%.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) was downgraded by investment analysts at Daiwa America from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts have also commented on BMY. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday. UBS Group cut their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Jefferies Financial Group decreased their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Finally, Piper Sandler began coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Price Performance

BMY traded up $0.50 during trading on Tuesday, hitting $45.32. 11,839,864 shares of the stock traded hands, compared to its average volume of 13,897,906. The business has a 50 day moving average price of $47.36 and a 200 day moving average price of $51.98. The company has a market cap of $92.24 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 2.29 and a beta of 0.36. Bristol Myers Squibb has a twelve month low of $42.96 and a twelve month high of $63.33. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. Bristol Myers Squibb's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $2.07 EPS. Equities research analysts forecast that Bristol Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at $25,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Bristol Myers Squibb during the 2nd quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in Bristol Myers Squibb in the fourth quarter worth about $26,000. Transce3nd LLC bought a new stake in shares of Bristol Myers Squibb in the 4th quarter worth approximately $28,000. Finally, Global Wealth Strategies & Associates lifted its position in shares of Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares during the last quarter. 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.