Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $52.00

Bristol-Myers Squibb (NYSE:BMY) had its price target lifted by Wells Fargo & Company from $51.00 to $52.00 in a research note released on Thursday, Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on BMY. StockNews.com downgraded shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a report on Monday, April 15th. Redburn Atlantic cut Bristol-Myers Squibb from a buy rating to a neutral rating and dropped their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair reiterated a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Societe Generale lowered shares of Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Monday, March 11th. Finally, Bank of America downgraded shares of Bristol-Myers Squibb from a buy rating to a neutral rating and reduced their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $61.18.

Bristol-Myers Squibb Stock Up 1.3 %

Shares of NYSE BMY opened at $48.93 on Thursday. The stock has a market capitalization of $99.17 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.46 and a beta of 0.39. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $70.93. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm’s 50-day moving average price is $51.23 and its 200-day moving average price is $51.47.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. During the same period last year, the company earned $1.82 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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 given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.90%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently made changes to their positions in the business. Riversedge Advisors LLC raised its holdings in Bristol-Myers Squibb by 3.2% during the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after buying an additional 178 shares in the last quarter. Vicus Capital raised its stake in shares of Bristol-Myers Squibb by 3.9% in the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 179 shares in the last quarter. Front Row Advisors LLC lifted its holdings in Bristol-Myers Squibb by 17.5% in the 4th quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 182 shares during the last quarter. Cassia Capital Partners LLC boosted its position in Bristol-Myers Squibb by 2.3% during the third quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock worth $460,000 after purchasing an additional 182 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in Bristol-Myers Squibb by 2.3% during the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.