S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
Log in

Bristol-Myers Squibb (NYSE:BMY) Upgraded to "Conviction-Buy" by The Goldman Sachs Group

Last updated on Tuesday, December 15, 2020 | 2020 MarketBeat

Bristol-Myers Squibb (NYSE:BMY) was upgraded by investment analysts at The Goldman Sachs Group from a "buy" rating to a "conviction-buy" rating in a research note issued on Tuesday, The Fly reports.

Several other analysts have also recently commented on BMY. TheStreet raised shares of Bristol-Myers Squibb from a "c+" rating to a "b" rating in a research note on Monday, December 7th. Guggenheim raised shares of Bristol-Myers Squibb from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Monday, October 19th. Berenberg Bank initiated coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, September 29th. They issued a "buy" rating and a $73.00 target price for the company. Gabelli lowered shares of Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a report on Friday, November 6th. Finally, Smith Barney Citigroup lifted their price target on shares of Bristol-Myers Squibb from $73.00 to $77.00 in a report on Monday, November 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Bristol-Myers Squibb presently has a consensus rating of "Buy" and a consensus target price of $73.71.

Shares of BMY opened at $59.97 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.67 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $61.91 and a 200-day simple moving average of $78.59. Bristol-Myers Squibb has a 1-year low of $45.76 and a 1-year high of $68.34. The stock has a market cap of $135.69 billion, a price-to-earnings ratio of -545.13, a price-to-earnings-growth ratio of 1.05 and a beta of 0.67.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Tuesday, November 10th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.49 by $0.14. The firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.33 billion. Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. Bristol-Myers Squibb's revenue for the quarter was up 75.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 EPS. On average, equities analysts expect that Bristol-Myers Squibb will post 6.35 earnings per share for the current fiscal year.

In other Bristol-Myers Squibb news, EVP Rupert Vessey sold 13,421 shares of the business's stock in a transaction on Monday, November 23rd. The shares were sold at an average price of $61.34, for a total value of $823,244.14. Following the transaction, the executive vice president now owns 37,922 shares in the company, valued at approximately $2,326,135.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Adam Dubow sold 900 shares of the business's stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $63.39, for a total transaction of $57,051.00. Following the completion of the sale, the senior vice president now directly owns 15,186 shares of the company's stock, valued at approximately $962,640.54. The disclosure for this sale can be found here. Insiders sold a total of 71,915 shares of company stock worth $4,410,814 in the last quarter. 0.14% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CCM Investment Advisers LLC increased its position in Bristol-Myers Squibb by 0.3% in the 3rd quarter. CCM Investment Advisers LLC now owns 156,259 shares of the biopharmaceutical company's stock valued at $9,420,000 after acquiring an additional 407 shares in the last quarter. WFA of San Diego LLC bought a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $631,000. ARGI Investment Services LLC boosted its stake in shares of Bristol-Myers Squibb by 0.7% in the 2nd quarter. ARGI Investment Services LLC now owns 25,688 shares of the biopharmaceutical company's stock valued at $1,510,000 after purchasing an additional 190 shares during the last quarter. Ninety One UK Ltd bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $13,165,000. Finally, TIAA FSB boosted its stake in Bristol-Myers Squibb by 5.2% during the 3rd quarter. TIAA FSB now owns 513,245 shares of the biopharmaceutical company's stock worth $30,943,000 after acquiring an additional 25,582 shares during the last quarter. 64.80% of the stock is owned by institutional investors.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. The company's products include Opdivo for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia for adult patients with active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.

Recommended Story: Google Finance Portfolio Tips and Tricks

The Fly

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]


7 Entertainment Stocks That Are Still Delighting Investors

2020 has created a real-life movie script that many production companies could have only dreamed of. But that dream has been a nightmare for many of the world’s leading entertainment stocks. Movie theaters and live entertainment venues remain shut down. The words “pent-up demand” have never resonated more. Consumers are desperate for ways to be entertained.

That may make it an odd time to consider looking at entertainment stocks. But that would be a mistake. In fact, some entertainment stocks have been among the biggest pandemic winners. This is a trend that is likely to continue as the holidays arrive. The phrase “home for the holidays” is likely to have a new meaning this year. That means consumers will still be looking for ways to be entertained. And now is the time for you to prepare your portfolio for that move.

To be clear, the novel coronavirus was not due to poor management from any company. And you can bet that in the future, many companies will leave some room in their balance sheet for future “acts of God.” But in the meantime, some entertainment stocks have been pandemic winners. And that means they will likely continue to be winners as long as the pandemic lingers.

View the "7 Entertainment Stocks That Are Still Delighting Investors".

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.