Bristol-Myers Squibb (NYSE:BMY) Price Target Increased to $87.00 by Analysts at Atlantic Securities

Bristol-Myers Squibb (NYSE:BMYGet Rating) had its price objective hoisted by Atlantic Securities from $83.00 to $87.00 in a report released on Monday, Stock Target Advisor reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently weighed in on BMY. Raymond James cut shares of Bristol-Myers Squibb from an outperform rating to a market perform rating in a research report on Friday, June 3rd. They noted that the move was a valuation call. UBS Group lifted their price objective on shares of Bristol-Myers Squibb to $73.00 and gave the company an outperform rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. boosted their target price on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. Citigroup reaffirmed a buy rating and set a $90.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, June 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an equal weight rating in a research note on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb has an average rating of Moderate Buy and a consensus price target of $76.00.

Bristol-Myers Squibb Trading Up 3.1 %

NYSE:BMY opened at $72.36 on Monday. The firm has a 50-day moving average price of $72.95 and a two-hundred day moving average price of $73.96. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.34 and a current ratio of 1.44. Bristol-Myers Squibb has a 52 week low of $53.22 and a 52 week high of $80.59. The firm has a market cap of $154.51 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 1.49 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 earnings per share. On average, equities analysts expect that Bristol-Myers Squibb will post 7.51 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 1st were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Thursday, June 30th. Bristol-Myers Squibb’s payout ratio is presently 71.76%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently modified their holdings of the business. Royal London Asset Management Ltd. grew its stake in Bristol-Myers Squibb by 0.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 783,275 shares of the biopharmaceutical company’s stock worth $60,375,000 after buying an additional 2,600 shares during the last quarter. First National Bank of Omaha increased its stake in Bristol-Myers Squibb by 0.3% during the 2nd quarter. First National Bank of Omaha now owns 75,716 shares of the biopharmaceutical company’s stock worth $5,830,000 after buying an additional 203 shares in the last quarter. Amundi increased its stake in Bristol-Myers Squibb by 28.7% during the 2nd quarter. Amundi now owns 5,363,362 shares of the biopharmaceutical company’s stock worth $398,064,000 after buying an additional 1,195,638 shares in the last quarter. Intersect Capital LLC grew its position in shares of Bristol-Myers Squibb by 24.4% in the second quarter. Intersect Capital LLC now owns 27,671 shares of the biopharmaceutical company’s stock valued at $2,131,000 after purchasing an additional 5,432 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Bristol-Myers Squibb by 6,445.9% in the second quarter. Verition Fund Management LLC now owns 18,530 shares of the biopharmaceutical company’s stock valued at $1,426,000 after purchasing an additional 18,822 shares in the last quarter. 76.54% of the stock is owned by institutional investors.

Bristol-Myers Squibb Company Profile

(Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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