Brokerages Set Bristol-Myers Squibb (NYSE:BMY) Price Target at $54.67

Bristol-Myers Squibb (NYSE:BMY) has been given an average rating of “Hold” by the seventeen research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $54.67.

Several analysts have commented on BMY shares. Jefferies Financial Group raised their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Barclays boosted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, TD Cowen raised their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th.

Bristol-Myers Squibb Stock Performance

BMY opened at $48.59 on Thursday. The firm has a fifty day moving average price of $46.44 and a 200 day moving average price of $46.53. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.01. The stock has a market cap of $98.50 billion, a P/E ratio of -15.67, a P/E/G ratio of 12.62 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently modified their holdings of BMY. Great Diamond Partners LLC grew its stake in shares of Bristol-Myers Squibb by 9.2% in the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after buying an additional 367 shares during the period. Global Assets Advisory LLC purchased a new position in Bristol-Myers Squibb in the first quarter worth approximately $5,161,000. Principal Securities Inc. acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth $1,139,000. Lincoln National Corp raised its position in Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after purchasing an additional 3,052 shares during the period. Finally, Chapin Davis Inc. lifted its stake in shares of Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after purchasing an additional 4,159 shares during the last quarter. 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.