Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $60.00

Bristol-Myers Squibb (NYSE:BMY) had its target price increased by Citigroup from $55.00 to $60.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently commented on the company. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $73.00 in a research report on Tuesday. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Down 2.3 %

Shares of BMY stock traded down $1.34 during trading hours on Tuesday, reaching $57.16. 1,089,516 shares of the company’s stock were exchanged, compared to its average volume of 14,372,343. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The stock has a market cap of $115.93 billion, a PE ratio of -15.92, a PEG ratio of 15.83 and a beta of 0.44. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock’s fifty day moving average price is $52.58 and its two-hundred day moving average price is $47.15.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the company earned $2.00 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.20%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Atomi Financial Group Inc. acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $231,000. Avantax Advisory Services Inc. boosted its holdings in Bristol-Myers Squibb by 3.5% in the first quarter. Avantax Advisory Services Inc. now owns 69,961 shares of the biopharmaceutical company’s stock worth $3,794,000 after acquiring an additional 2,336 shares in the last quarter. TD Asset Management Inc raised its holdings in Bristol-Myers Squibb by 2.7% during the first quarter. TD Asset Management Inc now owns 1,648,245 shares of the biopharmaceutical company’s stock worth $89,384,000 after buying an additional 42,682 shares during the last quarter. Souders Financial Advisors bought a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $370,000. Finally, TBH Global Asset Management LLC boosted its holdings in Bristol-Myers Squibb by 10.4% during the 1st quarter. TBH Global Asset Management LLC now owns 9,656 shares of the biopharmaceutical company’s stock worth $524,000 after acquiring an additional 906 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.