Bristol-Myers Squibb Company [BMY] stock Downgrade by Morgan Stanley analyst, price target now $62

Bristol-Myers Squibb Company [NYSE: BMY] traded at a low on 06/07/21, posting a -0.26 loss after which it closed the day’ session at $64.77. The company report on June 4, 2021 that Bristol Myers Squibb to Take Part in Goldman Sachs 42nd Annual Global Healthcare Conference.

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Bristol Myers Squibb (NYSE: BMY) announced that the company will participate in a fireside chat at the Goldman Sachs 42nd Annual Global Healthcare Virtual Conference, which will be webcast on Thursday, June 10, 2021. Chris Boerner, Ph.D., Executive Vice President, Chief Commercialization Officer and Samit Hirawat, M.D., Executive Vice President, Chief Medical Officer, Global Drug Development, will answer questions about the company at 9:40 a.m. ET.

Investors and the general public are invited to listen to a live webcast of the session at http://investor.bms.com. An archived edition of the session will be available later that day.

The results of the trading session contributed to over 7968982 shares changing hands. Over the past one week, the price volatility of Bristol-Myers Squibb Company stands at 1.27% while the volatility over the past one month is 1.40%.

The market cap for BMY stock reached $144.31 billion, with 2.24 billion shares outstanding and 2.23 billion shares in the current float. Compared to the average trading volume of 10.88M shares, BMY reached a trading volume of 7968982 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Bristol-Myers Squibb Company [BMY]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BMY shares is $75.37 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BMY stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Bristol-Myers Squibb Company shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on April 30, 2021. The new note on the price target was released on April 13, 2021, representing the official price target for Bristol-Myers Squibb Company stock. Previously, the target price had yet another raise to $76, while Societe Generale analysts kept a Buy rating on BMY stock.

The Average True Range (ATR) for Bristol-Myers Squibb Company is set at 0.97, with the Price to Sales ratio for BMY stock in the period of the last 12 months amounting to 3.37. The Price to Book ratio for the last quarter was 3.85, with the Price to Cash per share for the same quarter was set at 5.80. Price to Free Cash Flow for BMY in the course of the last twelve months was 15.90 with Quick ratio for the last quarter at 1.50.

How has BMY stock performed recently?

Bristol-Myers Squibb Company [BMY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.45. With this latest performance, BMY shares gained by 0.48% in over the last four-week period, additionally plugging by 4.84% over the last 6 months – not to mention a rise of 5.61% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BMY stock in for the last two-week period is set at 45.99, with the RSI for the last a single of trading hit 39.87, and the three-weeks RSI is set at 49.29 for Bristol-Myers Squibb Company [BMY]. The present Moving Average for the last 50 days of trading for this stock 64.67, while it was recorded at 64.86 for the last single week of trading, and 62.28 for the last 200 days.

Bristol-Myers Squibb Company [BMY]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Bristol-Myers Squibb Company [BMY] shares currently have an operating margin of +10.56 and a Gross Margin at +51.04. Bristol-Myers Squibb Company’s Net Margin is presently recorded at -21.20.

Return on Total Capital for BMY is now 4.76, given the latest momentum, and Return on Invested Capital for the company is -9.87. Return on Equity for this stock declined to -20.16, with Return on Assets sitting at -7.26. When it comes to the capital structure of this company, Bristol-Myers Squibb Company [BMY] has a Total Debt to Total Equity ratio set at 136.62. Additionally, BMY Total Debt to Total Capital is recorded at 57.74, with Total Debt to Total Assets ending up at 43.61. Long-Term Debt to Equity for the company is recorded at 130.00, with the Long-Term Debt to Total Capital now at 54.94.

Reflecting on the efficiency of the workforce at the company, Bristol-Myers Squibb Company [BMY] managed to generate an average of -$298,017 per employee. Receivables Turnover for the company is 4.54 with a Total Asset Turnover recorded at a value of 0.34.Bristol-Myers Squibb Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.60.

Earnings analysis for Bristol-Myers Squibb Company [BMY]

With the latest financial reports released by the company, Bristol-Myers Squibb Company posted 1.63/share EPS, while the average EPS was predicted by analysts to be reported at 1.48/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BMY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bristol-Myers Squibb Company go to 7.80%.

Insider trade positions for Bristol-Myers Squibb Company [BMY]

There are presently around $105,676 million, or 75.20% of BMY stock, in the hands of institutional investors. The top three institutional holders of BMY stocks are: VANGUARD GROUP INC with ownership of 196,665,309, which is approximately -1.342% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 176,410,048 shares of the stock with an approximate value of $11.43 billion in BMY stocks shares; and STATE STREET CORP, currently with $5.89 billion in BMY stock with ownership of nearly -3.414% of the company’s market capitalization.

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Positions in Bristol-Myers Squibb Company stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,160 institutional holders increased their position in Bristol-Myers Squibb Company [NYSE:BMY] by around 73,652,928 shares. Additionally, 1,064 investors decreased positions by around 106,140,297 shares, while 272 investors held positions by with 1,451,757,940 shares. The mentioned changes placed institutional holdings at 1,631,551,165 shares, according to the latest SEC report filing. BMY stock had 148 new institutional investments in for a total of 6,048,592 shares, while 122 institutional investors sold positions of 8,633,384 shares during the same period.

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