It is Time to Underweight Bristol-Myers Squibb Company (NYSE:BMY), Atlantic Equities Says. Stock May Be Worth $57.00


Why Has Atlantic Equities Given Bristol-Myers Squibb Company (NYSE:BMY) a $57.00 Price Target

Atlantic Equities analyst initiated coverage on Bristol-Myers Squibb Company (NYSE:BMY) with a $57.00 Estimated Target Price and Underweight rating. The Estimated Target Price may mean a potential downside of -16.30% from firm’s previous close.

From a total of 19 analysts covering Bristol-Myers Squibb Company (NYSE:BMY) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $100 while the lowest target price is $61. The mean of all analyst targets is $74.74 with a 4.85% above today’s ($67.99) stock price. Bristol-Myers Squibb Company was the topic of 12 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Guggenheim upgraded shares on December 2 to “Buy” rating. UBS upgraded BMY stock in a recent report from September 29 to “Buy” rating.

Approximately 9.54M shares of stock traded hands or 83.46% up from the average. Bristol-Myers Squibb Co (NYSE:BMY) has risen 2.42% since May 15, 2015 and is uptrending. It has outperformed by 6.23% the S&P500.

The overall sentiment of institutions has increased to 0.94 in Q2 2015. Its up 0.09, from 0.85 in 2015Q2. The ratio is positive, as 69 institutions have sold all the shares of Bristol-Myers Squibb Co that they owned while 527 funds have taken shares off the table. 91 funds have purchased shares for the first time while 471 added to their positions. These institutions now hold 1.21 billion shares or 1.16% more than the 1.19 billion shares they owned in 2015Q2.

The Fund Sector Gamma As currently is holding shares equating to 7.19% of its total portfolio in Bristol-Myers Squibb Co representing a total of 448,800 shares. Another fund,Southport Management L.L.C., is holding a total of 50,000 shares equating to 5.98% of their holdings. Additionally, Crossvault Capital Management Llc has a 116,642 share stake in Bristol-Myers Squibb Co which represents 5.4% of their total portfolio. The Fund, Cullinan Associates Inc, based out of Kentucky, has also built up a stake in the stock, which represents a total of 5.38% of their total portfolio. Finally Orbimed Advisors Llc, a fund which is based in the state of New York reported a total holdings of 8.67 million shares.

Insider activity is a very important aspect to track on any stock. Going back to March 12, 2015, shareholders of Bristol-Myers Squibb Co have witnessed 0 buys, and a total of 2 selling transactions equating to a net activity of approximately $2.79 million . Andreotti Lamberto sold 23,200 shares worth approximately $1.41M. Caldarella Joseph C sold 16,972 shares worth approximately $1.12M. Cuss Francis M sold 114,666 shares worth approximately $7.78M. Moed Samuel J sold 591 shares worth approximately $39,402. The company insider Schmukler Louis S sold 12,000 shares worth $803,532.

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products across the world. The company has a market cap of $115.30 billion. The Company’s products are sold to wholesalers, retail pharmacies, hospitals, government entities and the medical profession. It has 63.95 P/E ratio. The Firm makes its products in the United States, Puerto Rico and in six foreign countries.

According to Zacks Investment Research, “Bristol-Myers Squibb Company is a global leader in the research and development of innovative lifesaving and life-enhancing treatments for heart disease; high blood pressure; stroke; diabetes; cancer; HIV/AIDS and other infectious diseases; depression, schizophrenia and other mental disorders; pain; and other conditions.”