Citigroup Issues Positive Forecast for Bristol-Myers Squibb (NYSE:BMY) Stock Price

Bristol-Myers Squibb (NYSE:BMY) had its price target increased by Citigroup from $60.00 to $65.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

BMY has been the topic of several other reports. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Truist Financial increased their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Barclays increased their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.60.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $59.11 on Tuesday. The stock has a market cap of $119.88 billion, a price-to-earnings ratio of -16.46, a PEG ratio of 2.02 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The stock’s 50 day moving average price is $57.59 and its 200 day moving average price is $53.02.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the business earned $2.00 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.20%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors have recently made changes to their positions in the company. Valmark Advisers Inc. raised its position in Bristol-Myers Squibb by 7.4% during the fourth quarter. Valmark Advisers Inc. now owns 4,535 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 312 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $4,377,000. Allworth Financial LP raised its holdings in shares of Bristol-Myers Squibb by 23.1% during the 4th quarter. Allworth Financial LP now owns 77,835 shares of the biopharmaceutical company’s stock valued at $4,444,000 after purchasing an additional 14,624 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Bristol-Myers Squibb by 19.2% in the 4th quarter. Principal Securities Inc. now owns 44,800 shares of the biopharmaceutical company’s stock valued at $2,534,000 after purchasing an additional 7,204 shares during the last quarter. Finally, Centerpoint Advisory Group bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $284,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

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.