Analysts Set Bristol-Myers Squibb (NYSE:BMY) PT at $57.67

Bristol-Myers Squibb (NYSE:BMY) has received a consensus rating of “Hold” from the nineteen research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $57.67.

BMY has been the topic of several analyst reports. UBS Group dropped their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Truist Financial upped their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th.

Bristol-Myers Squibb Stock Down 0.3 %

BMY stock opened at $49.24 on Friday. The company has a market capitalization of $100.18 billion, a price-to-earnings ratio of -11.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The business’s 50 day moving average price is $56.98 and its two-hundred day moving average price is $56.68. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.04%. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.07% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

A number of large investors have recently added to or reduced their stakes in BMY. Morse Asset Management Inc boosted its stake in Bristol-Myers Squibb by 25.0% during the third quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company’s stock worth $517,000 after buying an additional 2,000 shares during the period. Tudor Financial Inc. purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $250,000. Pine Valley Investments Ltd Liability Co raised its holdings in shares of Bristol-Myers Squibb by 1.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 44,897 shares of the biopharmaceutical company’s stock worth $2,323,000 after buying an additional 575 shares during the period. World Investment Advisors LLC boosted its holdings in Bristol-Myers Squibb by 18.7% during the 3rd quarter. World Investment Advisors LLC now owns 44,106 shares of the biopharmaceutical company’s stock valued at $2,282,000 after acquiring an additional 6,954 shares during the period. Finally, Arvest Bank Trust Division purchased a new stake in Bristol-Myers Squibb in the third quarter worth $1,724,000. Institutional investors 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.