Brokerages Set Bristol-Myers Squibb (NYSE:BMY) PT at $61.12

Shares of Bristol-Myers Squibb (NYSE:BMYGet Free Report) have been given an average recommendation of “Hold” by the nineteen ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $61.12.

BMY has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 6th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th.

View Our Latest Stock Report on Bristol-Myers Squibb

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $25,000. True Wealth Design LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $26,000. Milestone Investment Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $27,000. Northwest Financial Advisors purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $27,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $28,000. Institutional investors and hedge funds own 74.98% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $52.34 on Thursday. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $71.07. The business has a 50-day simple moving average of $50.54 and a two-hundred day simple moving average of $52.94. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The firm has a market cap of $105.84 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.59 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the previous year, the firm earned $1.82 EPS. Bristol-Myers Squibb’s revenue was up .6% on a year-over-year basis. On average, analysts expect that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb announced that its board has approved a share buyback program on Thursday, December 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the biopharmaceutical company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Bristol-Myers Squibb Company Profile

(Get Free Report

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.

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Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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