Trading Report: The Leerink Swann Reaffirms Buy Rating for Bristol-Myers Squibb Co. (BMY)

The Leerink Swann Reaffirms Buy Rating for Bristol-Myers Squibb Co. (BMY)

Leerink Swann reissued their buy rating on shares of Bristol-Myers Squibb Co. (NYSE:BMY) in a report published on Sunday morning. The firm currently has a $69.00 price objective on the biopharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on the company. Goldman Sachs Group Inc. reaffirmed a buy rating and issued a $75.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, September 27th. Citigroup Inc. lowered their price objective on Bristol-Myers Squibb from $75.00 to $70.00 and set a buy rating on the stock in a report on Tuesday, September 20th. Jefferies Group reaffirmed a hold rating and issued a $57.00 price objective (down previously from $69.00) on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Barclays PLC lowered their price objective on Bristol-Myers Squibb from $75.00 to $65.00 and set an equal weight rating on the stock in a report on Friday, September 9th. Finally, BMO Capital Markets reaffirmed a market perform rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a report on Saturday, September 3rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $69.61.

Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 55.43 on Friday. Bristol-Myers Squibb has a 52-week low of $53.56 and a 52-week high of $77.12. The stock has a 50 day moving average price of $56.41 and a 200-day moving average price of $66.79. The stock has a market capitalization of $92.62 billion, a price-to-earnings ratio of 32.42 and a beta of 0.74.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, equities research analysts predict that Bristol-Myers Squibb will post $2.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 87.36%.

In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the transaction, the director now directly owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. WESPAC Advisors SoCal LLC boosted its position in Bristol-Myers Squibb by 5.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,538 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 75 shares during the last quarter. Acropolis Investment Management LLC boosted its position in Bristol-Myers Squibb by 21.3% in the third quarter. Acropolis Investment Management LLC now owns 2,815 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 495 shares during the last quarter. Jolley Asset Management LLC boosted its position in Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol-Myers Squibb during the second quarter worth $163,000. Finally, Solaris Asset Management LLC boosted its position in Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 75 shares during the last quarter. 72.91% of the stock is owned by institutional investors.

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