Bristol-Myers Squibb (NYSE:BMY) PT Raised to $52.00 at Wells Fargo & Company

Bristol-Myers Squibb (NYSE:BMY) had its target price hoisted by analysts at Wells Fargo & Company from $51.00 to $52.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 6.27% from the company’s current price.

A number of other equities research analysts also recently weighed in on BMY. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $61.18.

Bristol-Myers Squibb Trading Up 1.3 %

Shares of BMY stock opened at $48.93 on Thursday. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93. The firm has a market capitalization of $99.17 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.39. The stock has a fifty day moving average of $51.23 and a two-hundred day moving average of $51.51. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 earnings per share. As a group, research analysts expect that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Institutional Trading of Bristol-Myers Squibb

Hedge funds have recently made changes to their positions in the stock. Maryland State Retirement & Pension System increased its stake in Bristol-Myers Squibb by 0.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 159,870 shares of the biopharmaceutical company’s stock valued at $8,670,000 after buying an additional 1,354 shares during the period. Marshall Financial Group LLC increased its stake in shares of Bristol-Myers Squibb by 8.1% in the first quarter. Marshall Financial Group LLC now owns 28,437 shares of the biopharmaceutical company’s stock worth $1,542,000 after acquiring an additional 2,124 shares during the last quarter. FCG Investment Co purchased a new stake in shares of Bristol-Myers Squibb during the first quarter worth $445,000. New Century Financial Group LLC acquired a new stake in Bristol-Myers Squibb during the first quarter valued at $1,135,000. Finally, Tempus Wealth Planning LLC grew its stake in Bristol-Myers Squibb by 190.2% in the first quarter. Tempus Wealth Planning LLC now owns 11,318 shares of the biopharmaceutical company’s stock valued at $614,000 after purchasing an additional 7,418 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.