Bristol-Myers Squibb (NYSE:BMY) PT Lowered to $51.00

Bristol-Myers Squibb (NYSE:BMYGet Free Report) had its price objective lowered by equities research analysts at Wells Fargo & Company from $58.00 to $51.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 4.87% from the company’s current price.

Other analysts also recently issued reports about the stock. Cantor Fitzgerald downgraded shares of Bristol-Myers Squibb from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $55.00 in a research report on Wednesday, November 15th. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. UBS Group reiterated a “neutral” rating and issued a $60.00 target price (down from $70.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 20th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, BMO Capital Markets lowered shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating and set a $60.00 price target on the stock. in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.17.

View Our Latest Report on Bristol-Myers Squibb

Bristol-Myers Squibb Trading Down 1.3 %

NYSE BMY opened at $48.63 on Tuesday. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $74.42. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.18 and a quick ratio of 1.07. The company has a market capitalization of $98.95 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.36 and a beta of 0.38. The company’s fifty day moving average price is $50.54 and its two-hundred day moving average price is $54.93.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.33%. The company had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same period last year, the firm posted $1.82 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts predict that Bristol-Myers Squibb will post 7.07 earnings per share for the current fiscal year.

Bristol-Myers Squibb announced that its Board of Directors has approved a stock buyback plan on Thursday, December 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director Theodore R. Samuels II purchased 8,500 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the transaction, the director now directly owns 35,500 shares in the company, valued at $1,768,255. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 8,500 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $49.81 per share, for a total transaction of $423,385.00. Following the transaction, the director now owns 35,500 shares in the company, valued at approximately $1,768,255. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher S. Boerner bought 3,071 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were acquired at an average price of $48.86 per share, for a total transaction of $150,049.06. Following the completion of the transaction, the chief executive officer now owns 79,384 shares in the company, valued at approximately $3,878,702.24. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 13,571 shares of company stock worth $672,994. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in Bristol-Myers Squibb by 0.9% during the second quarter. State Street Corp now owns 92,570,288 shares of the biopharmaceutical company’s stock worth $5,919,870,000 after purchasing an additional 858,922 shares during the period. Capital International Investors raised its stake in Bristol-Myers Squibb by 12.8% during the second quarter. Capital International Investors now owns 69,296,006 shares of the biopharmaceutical company’s stock worth $4,431,517,000 after acquiring an additional 7,878,833 shares in the last quarter. Geode Capital Management LLC raised its stake in Bristol-Myers Squibb by 0.6% during the second quarter. Geode Capital Management LLC now owns 39,034,341 shares of the biopharmaceutical company’s stock worth $2,489,314,000 after acquiring an additional 225,065 shares in the last quarter. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $1,873,696,000. Finally, Northern Trust Corp grew its holdings in shares of Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after purchasing an additional 1,394,158 shares during the last quarter. 74.98% of the stock is currently owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

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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, 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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