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

Shares of Bristol-Myers Squibb (NYSE:BMY) have earned an average recommendation of “Hold” from the nineteen research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $61.12.

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

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $50.29 on Monday. The business’s fifty day moving average price is $51.28 and its 200 day moving average price is $51.94. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $70.93. The stock has a market capitalization of $101.92 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.54 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period last year, the business posted $1.82 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts forecast that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.77%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $1,560,524,000. Moneta Group Investment Advisors LLC raised its stake in Bristol-Myers Squibb by 114,228.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after acquiring an additional 21,451,006 shares in the last quarter. Van ECK Associates Corp raised its stake in Bristol-Myers Squibb by 792.6% during the fourth quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after acquiring an additional 3,579,324 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after purchasing an additional 2,998,228 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Bristol-Myers Squibb by 16.6% during the fourth quarter. Legal & General Group Plc now owns 19,811,009 shares of the biopharmaceutical company’s stock worth $1,016,502,000 after purchasing an additional 2,814,746 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Company Profile

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.