Atlantic Equities Issues an Upgrade on Bristol-Myers Squibb (NYSE:BMY) Shares. What’s Next?

August 9, 2018 - By Ash Maslow

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Investors sentiment decreased to 0.83 in 2018 Q1. Its down 0.11, from 0.94 in 2017Q4. It dropped, as 64 investors sold Bristol-Myers Squibb Company shares while 573 reduced holdings. 111 funds opened positions while 418 raised stakes. 1.12 billion shares or 1.08% more from 1.11 billion shares in 2017Q4 were reported.

Aviance Cap Mgmt Ltd Liability owns 0% invested in Bristol-Myers Squibb Company (NYSE:BMY) for 33 shares. Creative Planning invested 0.07% of its portfolio in Bristol-Myers Squibb Company (NYSE:BMY). Sessa Cap Im Lp holds 1.18% in Bristol-Myers Squibb Company (NYSE:BMY) or 175,000 shares. Davenport & Ltd Company has invested 0% in Bristol-Myers Squibb Company (NYSE:BMY). 1832 Asset Management L P, Ontario – Canada-based fund reported 600 shares. Old Point Tru And Fin Service N A reported 3,776 shares or 0.13% of all its holdings. Fukoku Mutual Life owns 101,890 shares. Private Ocean Llc invested 0.06% in Bristol-Myers Squibb Company (NYSE:BMY). Stratos Wealth Partners Ltd accumulated 299,462 shares or 0.8% of the stock. Group One Trading L P holds 0.03% or 54,530 shares in its portfolio. Baxter Bros Inc holds 0.3% or 17,665 shares. Stralem reported 41,700 shares or 0.52% of all its holdings. Tower Research Capital (Trc) holds 0.01% or 2,400 shares. Comml Bank Of Nova Scotia holds 0.19% of its portfolio in Bristol-Myers Squibb Company (NYSE:BMY) for 569,695 shares. Mckinley Carter Wealth holds 0.01% of its portfolio in Bristol-Myers Squibb Company (NYSE:BMY) for 250 shares.

Since April 30, 2018, it had 1 insider buy, and 0 selling transactions for $249,948 activity.

Bristol-Myers Squibb (NYSE:BMY) Stock Upgrade

In a research note published on Wednesday, 8 August, Atlantic Equities announced that they have decided to upgrade shares of Bristol-Myers Squibb (NYSE:BMY) stock from a Underweight to a Neutral.

Bristol-Myers Squibb Company (NYSE:BMY) Ratings Coverage

Among 13 analysts covering Bristol-Myers Squibb Company (NYSE:BMY), 3 have Buy rating, 0 Sell and 10 Hold. Therefore 23% are positive. Bristol-Myers Squibb Company has $78.0 highest and $47 lowest target. $63’s average target is 4.70% above currents $60.17 stock price. Bristol-Myers Squibb Company had 19 analyst reports since February 15, 2018 according to SRatingsIntel. As per Friday, April 27, the company rating was upgraded by BMO Capital Markets. As per Friday, April 20, the company rating was maintained by Cowen & Co. Morgan Stanley upgraded Bristol-Myers Squibb Company (NYSE:BMY) on Thursday, February 15 to “Overweight” rating. BMO Capital Markets maintained Bristol-Myers Squibb Company (NYSE:BMY) on Wednesday, April 18 with “Underperform” rating. Citigroup maintained it with “Buy” rating and $78.0 target in Friday, February 16 report. Credit Suisse maintained it with “Neutral” rating and $61 target in Friday, July 27 report. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Tuesday, April 17. UBS downgraded the stock to “Hold” rating in Monday, May 21 report. The firm has “Market Perform” rating by BMO Capital Markets given on Monday, July 23. The company was maintained on Friday, March 23 by Jefferies.

The stock increased 2.02% or $1.19 during the last trading session, reaching $60.17. About 7.01 million shares traded or 2.64% up from the average. Bristol-Myers Squibb Company (NYSE:BMY) has declined 2.98% since August 9, 2017 and is downtrending. It has underperformed by 15.55% the S&P500.

Analysts await Bristol-Myers Squibb Company (NYSE:BMY) to report earnings on October, 25. They expect $0.89 EPS, up 18.67 % or $0.14 from last year’s $0.75 per share. BMY’s profit will be $1.45 billion for 16.90 P/E if the $0.89 EPS becomes a reality. After $1.01 actual EPS reported by Bristol-Myers Squibb Company for the previous quarter, Wall Street now forecasts -11.88 % negative EPS growth.

Bristol-Myers Squibb Company discovers, develops, licenses, makes, markets, and distributes biopharmaceutical products worldwide. The company has market cap of $98.19 billion. The firm offers chemically-synthesized drug and biologic in various therapeutic areas, such as oncology; cardiovascular; immunoscience; and virology comprising human immunodeficiency virus infection . It has a 267.42 P/E ratio. The Company’s products include Empliciti, a humanized monoclonal antibody to treat multiple myeloma; Opdivo, a human monoclonal antibody to treat renal cell carcinoma, non-small cell lung cancer, classical Hodgkin lymphoma, gastric cancer, melanoma, metastatic urothelial carcinoma, and squamous cell carcinoma of the head and neck; Erbitux, an IgG1 monoclonal antibody that blocks the epidermal growth factor receptor; Sprycel, a tyrosine kinase inhibitor for the treatment of adults with Philadelphia chromosome-positive chronic myeloid leukemia; and Yervoy, a monoclonal antibody for metastatic melanoma.

More notable recent Bristol-Myers Squibb Company (NYSE:BMY) news were published by: Seekingalpha.com which released: “BeiGene launches late-stage study of tislelizumab in first-line lung cancer” on August 09, 2018, also Seekingalpha.com with their article: “Premarket analyst action – healthcare” published on August 08, 2018, Nasdaq.com published: “Report: Developing Opportunities within Cytosorbents, Nasdaq, Mastercard, Maxim Integrated Products, Bristol-Myers …” on August 08, 2018. More interesting news about Bristol-Myers Squibb Company (NYSE:BMY) were released by: Benzinga.com and their article: “Q2 Earnings Preview For Bristol-Myers Squibb” published on July 25, 2018 as well as Forbes.com‘s news article titled: “A Ramp Up In Opdivo And Eliquis Sales Will Drive Bristol-Myers Squibb’s Future Growth” with publication date: July 30, 2018.

Bristol-Myers Squibb Company (NYSE:BMY) Institutional Positions Chart

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