Bristol-Myers Squibb (NYSE:BMY) Given Average Rating of “Hold” by Brokerages

Bristol-Myers Squibb (NYSE:BMY) has been given an average recommendation of “Hold” by the seventeen research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $55.00.

Several research firms recently commented on BMY. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 16th.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently modified their holdings of the company. Global Assets Advisory LLC acquired a new stake in Bristol-Myers Squibb in the first quarter worth approximately $5,161,000. Lincoln National Corp increased its position in Bristol-Myers Squibb by 7.7% during the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,052 shares during the last quarter. Chapin Davis Inc. boosted its holdings in Bristol-Myers Squibb by 22.6% during 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 period. Sierra Summit Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $755,000. Finally, Accel Wealth Management lifted its stake in shares of Bristol-Myers Squibb by 19.0% in the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock valued at $268,000 after buying an additional 788 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.5 %

Shares of NYSE:BMY opened at $53.95 on Monday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.65. The business’s fifty day simple moving average is $49.34 and its 200-day simple moving average is $46.40. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $109.35 billion, a PE ratio of -17.40, a P/E/G ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 EPS. As a group, equities research analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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

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.