Brokerages Set Bristol-Myers Squibb (NYSE:BMY) PT at $55.00

Shares of Bristol-Myers Squibb (NYSE:BMY) have been assigned an average recommendation of “Reduce” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $52.93.

Several brokerages have weighed in on BMY. Barclays upped their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Capital International Investors raised its holdings in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after acquiring an additional 8,675,322 shares in the last quarter. M&G Plc acquired a new position in shares of Bristol-Myers Squibb in the first quarter valued at $392,608,000. Pzena Investment Management LLC lifted its position in Bristol-Myers Squibb by 119.8% in the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after buying an additional 5,461,767 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Bristol-Myers Squibb by 97.2% in the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after buying an additional 3,918,234 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $53.96 on Monday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The firm has a market capitalization of $109.38 billion, a price-to-earnings ratio of -17.41, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46. The company has a 50 day simple moving average of $49.34 and a 200-day simple moving average of $46.33. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $57.65.

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

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.45%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

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.