Bristol-Myers Squibb (NYSE:BMY) had its target price raised by Bank of America from $49.00 to $50.00 in a research note issued to investors on Thursday, October 10th, BenzingaRatingsTable reports. They currently have a neutral rating on the biopharmaceutical company’s stock.
A number of other equities research analysts have also recently issued reports on BMY. TheStreet upgraded shares of Bristol-Myers Squibb from a c+ rating to a b- rating in a report on Wednesday, September 18th. UBS Group decreased their price objective on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a neutral rating for the company in a report on Thursday, June 13th. JPMorgan Chase & Co. set a $62.00 price objective on shares of Bristol-Myers Squibb and gave the stock a buy rating in a report on Friday, September 13th. ValuEngine upgraded shares of Bristol-Myers Squibb from a sell rating to a hold rating in a report on Monday, October 7th. Finally, Atlantic Securities raised shares of Bristol-Myers Squibb from a neutral rating to an overweight rating and set a $63.00 target price for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $56.64.
NYSE BMY opened at $56.39 on Thursday. Bristol-Myers Squibb has a twelve month low of $42.48 and a twelve month high of $58.46. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.72 and a current ratio of 3.83. The stock has a market cap of $93.13 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.34 and a beta of 0.71. The firm’s 50 day moving average price is $52.46 and its two-hundred day moving average price is $48.01.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.89 billion. During the same period in the previous year, the company posted $1.09 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts forecast that Bristol-Myers Squibb will post 4.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Lodestar Investment Counsel LLC IL grew its stake in Bristol-Myers Squibb by 5.2% during the second quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock worth $5,157,000 after buying an additional 5,579 shares during the last quarter. Perella Weinberg Partners Capital Management LP grew its stake in Bristol-Myers Squibb by 10.9% during the first quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 1,905 shares during the last quarter. Cypress Capital Management LLC grew its stake in Bristol-Myers Squibb by 21.2% during the second quarter. Cypress Capital Management LLC now owns 154,335 shares of the biopharmaceutical company’s stock worth $6,999,000 after buying an additional 26,990 shares during the last quarter. Nachman Norwood & Parrott Inc grew its stake in Bristol-Myers Squibb by 3.5% during the second quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock worth $2,285,000 after buying an additional 1,687 shares during the last quarter. Finally, Edge Wealth Management LLC grew its stake in Bristol-Myers Squibb by 217.7% during the second quarter. Edge Wealth Management LLC now owns 10,007 shares of the biopharmaceutical company’s stock worth $452,000 after buying an additional 6,857 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company’s products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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