StockNews.com Downgrades Bristol-Myers Squibb (NYSE:BMY) to Buy

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) was downgraded by investment analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Monday.

Several other brokerages have also weighed in on BMY. Societe Generale lowered Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a report on Monday, March 11th. Bank of America lowered shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and lowered their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and decreased their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Wells Fargo & Company cut their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 6th. Finally, William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of "Hold" and an average target price of $61.12.

Bristol-Myers Squibb Stock Up 0.5 %

Shares of BMY stock traded up $0.23 on Monday, hitting $48.51. The stock had a trading volume of 11,901,640 shares, compared to its average volume of 15,958,668. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93. The stock's 50 day moving average is $51.29 and its 200-day moving average is $51.69. The firm has a market capitalization of $98.32 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.78 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The company had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. Bristol-Myers Squibb's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 EPS. As a group, research analysts expect that Bristol-Myers Squibb will post 5.41 earnings per share for the current year.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $1,560,524,000. Northern Trust Corp raised its stake in shares of Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company's stock worth $1,467,989,000 after purchasing an additional 1,394,158 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company's stock valued at $1,207,549,000 after buying an additional 2,998,228 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 114,228.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company's stock valued at $1,544,751,000 after buying an additional 21,451,006 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Bristol-Myers Squibb by 16.6% in the fourth quarter. Legal & General Group Plc now owns 19,811,009 shares of the biopharmaceutical company's stock worth $1,016,502,000 after acquiring an additional 2,814,746 shares in the last quarter. 76.41% of the stock is currently 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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