Bristol Myers Squibb (NYSE:BMY) Upgraded by Dbs Bank to "Moderate Buy" Rating

Key Points

• Bristol Myers Squibb (NYSE:BMY) received a "moderate buy" rating upgrade from Dbs Bank amidst mixed analyst sentiments, with varying ratings from other institutions.
• The stock opened at $45.75 and has shown a yearly range between $42.96 and $63.33, with an average target price of $56.38 among analysts.
• Bristol Myers Squibb reported $1.46 EPS for the last quarter, exceeding estimates, with a projected FY 2025 EPS guidance of 6.350-6.650.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) was upgraded by research analysts at Dbs Bank to a "moderate buy" rating in a report released on Thursday,Zacks.com reports.

BMY has been the subject of a number of other reports. Citigroup decreased their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. Finally, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Stock Performance

BMY stock opened at $45.75 on Thursday. Bristol Myers Squibb has a 1 year low of $42.96 and a 1 year high of $63.33. The stock has a market capitalization of $93.12 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.43 and a beta of 0.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The stock's fifty day moving average is $46.42 and its two-hundred day moving average is $48.76.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS 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 analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, research analysts predict that Bristol Myers Squibb will post 6.74 EPS for the current year.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company'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 transaction, the executive vice president owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Bristol Myers Squibb

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Bristol Myers Squibb in the 2nd quarter worth about $1,554,154,000. Wellington Management Group LLP boosted its holdings in shares of Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock worth $1,447,198,000 after buying an additional 17,750,938 shares during the period. GQG Partners LLC increased its position in shares of Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after acquiring an additional 11,970,598 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Bristol Myers Squibb during the first quarter valued at approximately $624,369,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Bristol Myers Squibb by 16.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company's stock valued at $3,277,456,000 after acquiring an additional 10,195,775 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

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.

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