Bristol-Myers Squibb (NYSE:BMY) Given New $54.00 Price Target at UBS Group

Bristol-Myers Squibb (NYSE:BMY) had its price objective boosted by UBS Group from $50.00 to $54.00 in a research report report published on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. Cantor Fitzgerald reissued a neutral rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. BMO Capital Markets reissued a market perform rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. StockNews.com raised Bristol-Myers Squibb from a buy rating to a strong-buy rating in a research note on Monday, July 29th. TD Cowen upped their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a hold rating in a research report on Monday, October 7th. Finally, Barclays lifted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an underweight rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of Hold and an average price target of $53.00.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $52.19 on Wednesday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.65. The company has a market capitalization of $105.79 billion, a P/E ratio of -16.84, a P/E/G ratio of 13.75 and a beta of 0.46. The stock has a 50 day moving average of $49.75 and a two-hundred day moving average of $46.43. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $1.75 earnings per share. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently modified their holdings of BMY. Global Assets Advisory LLC bought a new position in Bristol-Myers Squibb in the 1st quarter valued at $5,161,000. Lincoln National Corp lifted its stake in shares of Bristol-Myers Squibb by 7.7% during the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after acquiring an additional 3,052 shares during the period. Chapin Davis Inc. boosted its holdings in Bristol-Myers Squibb by 22.6% in the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after acquiring an additional 4,159 shares during the last quarter. Sierra Summit Advisors LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter worth about $755,000. Finally, Accel Wealth Management raised its holdings in Bristol-Myers Squibb by 19.0% during the 1st quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock worth $268,000 after purchasing an additional 788 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.