Bristol-Myers Squibb (NYSE:BMY) Upgraded at Leerink Partnrs

Leerink Partnrs upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s FY2026 earnings at $6.32 EPS, FY2027 earnings at $6.72 EPS and FY2028 earnings at $6.60 EPS.

Several other equities research analysts also recently commented on BMY. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $73.00 in a research report on Tuesday. Barclays increased their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Jefferies Financial Group lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Stock Down 3.9 %

BMY stock opened at $56.22 on Tuesday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The firm has a market cap of $114.02 billion, a PE ratio of -15.81, a P/E/G ratio of 15.83 and a beta of 0.44. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The firm has a 50 day simple moving average of $52.58 and a 200 day simple moving average of $47.15.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $2.00 EPS. Equities research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Graypoint LLC lifted its holdings in shares of Bristol-Myers Squibb by 29.4% during the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after buying an additional 2,563 shares during the last quarter. Xponance Inc. boosted its position in shares of Bristol-Myers Squibb by 8.8% in the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after acquiring an additional 25,543 shares during the period. Plato Investment Management Ltd grew its stake in shares of Bristol-Myers Squibb by 25.4% in the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after acquiring an additional 21,041 shares during the last quarter. Finally, Meritage Portfolio Management increased its position in Bristol-Myers Squibb by 1,874.9% during the third quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company’s stock worth $5,602,000 after acquiring an additional 102,782 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

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.