Bristol-Myers Squibb (NYSE:BMY) Given New $48.00 Price Target at BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY) had its price target decreased by BMO Capital Markets from $55.00 to $48.00 in a research report report published on Friday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the biopharmaceutical company’s stock.

Several other research firms have also recently issued reports on BMY. Societe Generale cut shares of Bristol-Myers Squibb from a buy rating to a hold rating in a research report on Monday, March 11th. StockNews.com cut shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research report on Monday, April 15th. William Blair reiterated a market perform rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Bank of America lowered shares of Bristol-Myers Squibb from a buy rating to a neutral rating and cut their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a report on Thursday, April 18th. One 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $60.00.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $44.86 on Friday. Bristol-Myers Squibb has a 12 month low of $44.34 and a 12 month high of $69.10. The stock has a market cap of $90.92 billion, a price-to-earnings ratio of -14.47, a PEG ratio of 16.25 and a beta of 0.39. The company’s 50 day moving average is $51.03 and its two-hundred day moving average is $51.18. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. The firm 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 company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 earnings per share. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.55 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $1,560,524,000. Northern Trust Corp boosted its stake in shares of Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after purchasing an additional 1,394,158 shares during the period. Primecap Management Co. CA boosted its stake in shares of Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after purchasing an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Bristol-Myers Squibb by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after acquiring an additional 1,246,066 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Bristol-Myers Squibb by 8.6% in the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock valued at $905,806,000 after acquiring an additional 1,240,902 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other 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.