Bristol Myers (BMY) Receives a Buy from BMO Capital

In a report released yesterday, Evan Seigerman from BMO Capital reiterated a Buy rating on Bristol Myers (BMYResearch Report), with a price target of $92.00. The company’s shares closed yesterday at $72.77.

Seigerman covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Amgen, and Mirati Therapeutics. According to TipRanks, Seigerman has an average return of 6.9% and a 52.90% success rate on recommended stocks.

In addition to BMO Capital, Bristol Myers also received a Buy from Atlantic Equities’s Steve Chesney in a report issued today. However, on the same day, Barclays maintained a Hold rating on Bristol Myers (NYSE: BMY).

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Based on Bristol Myers’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $11.22 billion and a net profit of $1.61 billion. In comparison, last year the company earned a revenue of $11.62 billion and had a net profit of $1.55 billion

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BMY in relation to earlier this year.

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Founded in 1933, New York-based Bristol-Myers Squibb Co. is a global pharmaceutical company, which engages in the development, licensing, manufacturing, distribution, and sale of biopharmaceutical products in several therapeutic areas. These include cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis and psychiatric disorders.

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