Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $43.00

Bristol-Myers Squibb (NYSE:BMY) had its price target hoisted by Barclays from $42.00 to $43.00 in a report published on Monday, Benzinga reports. They currently have an underweight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a hold rating in a research report on Wednesday, August 28th. BMO Capital Markets reiterated a market perform rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating for the company in a research report on Tuesday, July 23rd. StockNews.com upgraded Bristol-Myers Squibb from a buy rating to a strong-buy rating in a research report on Monday, July 29th. Finally, Cantor Fitzgerald reissued a neutral rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Down 0.7 %

Shares of NYSE BMY opened at $52.41 on Monday. The business has a 50-day moving average of $49.60 and a two-hundred day moving average of $46.39. The company has a market capitalization of $106.24 billion, a price-to-earnings ratio of -16.91, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.65. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly 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 positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter last year, the business posted $1.75 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts forecast 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 issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.58%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. ESL Trust Services LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $27,000. LGT Financial Advisors LLC raised its stake in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the period. MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb in the second quarter worth about $39,000. Fairman Group LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter worth $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.