Analysts Set Bristol-Myers Squibb (NYSE:BMY) Target Price at $60.00

Bristol-Myers Squibb (NYSE:BMY) has earned a consensus rating of “Hold” from the nineteen research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $60.00.

Several brokerages recently commented on BMY. BMO Capital Markets dropped their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $43.99 on Friday. The company has a fifty day moving average of $50.37 and a two-hundred day moving average of $50.65. Bristol-Myers Squibb has a fifty-two week low of $43.33 and a fifty-two week high of $69.10. The stock has a market capitalization of $89.17 billion, a PE ratio of -14.19, a P/E/G ratio of 14.82 and a beta of 0.45. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period last year, the company posted $2.05 EPS. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were issued a $0.60 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.46%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its stake in shares of Bristol-Myers Squibb by 2.3% in the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after buying an additional 182 shares in the last quarter. Addison Advisors LLC grew its position in Bristol-Myers Squibb by 6.6% in the 3rd quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 192 shares in the last quarter. Symphony Financial Ltd. Co. increased its stake in Bristol-Myers Squibb by 4.1% during the third quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock worth $288,000 after purchasing an additional 194 shares during the period. Blue Bell Private Wealth Management LLC lifted its position in shares of Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, AMG National Trust Bank boosted its stake in shares of Bristol-Myers Squibb by 1.0% in the third quarter. AMG National Trust Bank now owns 19,685 shares of the biopharmaceutical company’s stock valued at $1,143,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.