Bristol-Myers Squibb (NYSE:BMY) Given New $43.00 Price Target at Barclays

Bristol-Myers Squibb (NYSE:BMY) had its price target decreased by Barclays from $51.00 to $43.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the biopharmaceutical company’s stock.

BMY has been the topic of a number of other reports. Societe Generale cut shares of Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Monday, March 11th. William Blair reissued a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a research note on Thursday, April 18th. StockNews.com cut shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Monday, April 15th. Finally, Bank of America cut shares of Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their target price 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 issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $44.86 on Friday. The company’s 50 day simple moving average is $51.03 and its 200 day simple moving average is $51.18. The stock has a market capitalization of $90.92 billion, a price-to-earnings ratio of -14.47, a price-to-earnings-growth ratio of 16.25 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 has a 1 year low of $44.34 and a 1 year high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. As a group, research analysts predict that Bristol-Myers Squibb will post 0.55 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently bought and sold shares of BMY. Boston Trust Walden Corp increased its position in shares of Bristol-Myers Squibb by 5.3% during the third quarter. Boston Trust Walden Corp now owns 15,258 shares of the biopharmaceutical company’s stock worth $886,000 after acquiring an additional 771 shares in the last quarter. Strategic Blueprint LLC increased its position in shares of Bristol-Myers Squibb by 8.6% during the third quarter. Strategic Blueprint LLC now owns 5,440 shares of the biopharmaceutical company’s stock worth $316,000 after acquiring an additional 431 shares in the last quarter. Connecticut Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $240,000. Grimes & Company Inc. increased its position in shares of Bristol-Myers Squibb by 4.4% during the third quarter. Grimes & Company Inc. now owns 331,440 shares of the biopharmaceutical company’s stock worth $19,237,000 after acquiring an additional 14,084 shares in the last quarter. Finally, Zullo Investment Group Inc. increased its position in shares of Bristol-Myers Squibb by 8.1% during the third quarter. Zullo Investment Group Inc. now owns 3,506 shares of the biopharmaceutical company’s stock worth $203,000 after acquiring an additional 262 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

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.