Morgan Stanley Issues Positive Forecast for Bristol-Myers Squibb (NYSE:BMY) Stock Price

Bristol-Myers Squibb (NYSE:BMY) had its price target lifted by Morgan Stanley from $36.00 to $39.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an underweight rating on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft dropped their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Barclays raised their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. TD Cowen raised their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. Finally, Jefferies Financial Group increased their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Stock Down 2.3 %

Shares of NYSE BMY traded down $1.34 during mid-day trading 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. The business has a fifty day simple moving average of $52.58 and a 200 day simple moving average of $47.15. The firm has a market capitalization of $115.93 billion, a price-to-earnings 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. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.00 earnings per share. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Bristol-Myers Squibb

Several institutional investors have recently added to or reduced their stakes in BMY. Reston Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter worth about $25,000. Hollencrest Capital Management raised its stake in shares of Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares in the last quarter. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb in the first quarter valued at $27,000. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the third quarter valued at $28,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $29,000. Hedge funds and other 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.