TD Cowen Increases Bristol-Myers Squibb (NYSE:BMY) Price Target to $59.00

Bristol-Myers Squibb (NYSE:BMY) had its target price increased by analysts at TD Cowen from $53.00 to $59.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. TD Cowen’s target price would suggest a potential upside of 12.42% from the company’s current price.

Several other research analysts have also issued reports on BMY. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Jefferies Financial Group lifted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Barclays lifted their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.43.

Bristol-Myers Squibb Stock Down 1.8 %

NYSE:BMY opened at $52.48 on Monday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.65. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $106.38 billion, a P/E ratio of -16.93, a P/E/G ratio of 12.96 and a beta of 0.46. The stock’s fifty day simple moving average is $49.43 and its 200-day simple moving average is $46.34.

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

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently modified their holdings of BMY. Connectus Wealth LLC increased its position in shares of Bristol-Myers Squibb by 22.8% in the fourth quarter. Connectus Wealth LLC now owns 25,779 shares of the biopharmaceutical company’s stock valued at $1,323,000 after acquiring an additional 4,791 shares during the last quarter. State of Tennessee Treasury Department increased its position in Bristol-Myers Squibb by 4.1% during the fourth quarter. State of Tennessee Treasury Department now owns 819,361 shares of the biopharmaceutical company’s stock worth $42,041,000 after buying an additional 32,430 shares during the last quarter. Cullen Capital Management LLC increased its position in Bristol-Myers Squibb by 7.7% during the fourth quarter. Cullen Capital Management LLC now owns 1,132,051 shares of the biopharmaceutical company’s stock worth $58,086,000 after buying an additional 80,760 shares during the last quarter. Symmetry Investments LP acquired a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $1,054,000. Finally, Wasatch Advisors LP increased its position in Bristol-Myers Squibb by 4.2% during the fourth quarter. Wasatch Advisors LP now owns 87,375 shares of the biopharmaceutical company’s stock worth $4,483,000 after buying an additional 3,500 shares during the last quarter. 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.