Bristol-Myers Squibb’s (BMY) “Neutral” Rating Reaffirmed at The Goldman Sachs Group

Bristol-Myers Squibb (NYSE:BMY)‘s stock had its “neutral” rating restated by stock analysts at The Goldman Sachs Group in a report released on Tuesday, Marketbeat.com reports. They presently have a $55.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $67.00. The Goldman Sachs Group’s price objective suggests a potential upside of 2.23% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Cantor Fitzgerald boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Truist Financial boosted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.67.

Bristol-Myers Squibb Stock Up 1.4 %

Shares of NYSE:BMY opened at $53.80 on Tuesday. The firm has a market cap of $109.47 billion, a PE ratio of -12.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company has a fifty day simple moving average of $58.07 and a 200 day simple moving average of $56.73. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Insider Activity

In other news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently added to or reduced their stakes in BMY. Norges Bank bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $1,989,525,000. Ameriprise Financial Inc. lifted its stake in Bristol-Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Bristol-Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock valued at $705,309,000 after purchasing an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP boosted its position in Bristol-Myers Squibb by 3,880.0% in the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after buying an additional 5,827,317 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $257,618,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

About Bristol-Myers Squibb

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.