Analysts Set Bristol-Myers Squibb (NYSE:BMY) PT at $60.00

Bristol-Myers Squibb (NYSE:BMY) has been assigned an average recommendation of “Hold” from the nineteen research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $60.00.

A number of equities research analysts have recently commented on BMY shares. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Barclays dropped their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. 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 reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th.

Institutional Trading of Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the company. McClarren Financial Advisors Inc. boosted its position in shares of Bristol-Myers Squibb by 532.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after acquiring an additional 1,582 shares during the last quarter. Institute for Wealth Management LLC. boosted its holdings in shares of Bristol-Myers Squibb by 1.0% during the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after purchasing an additional 296 shares during the last quarter. Herold Advisors Inc. grew its position in shares of Bristol-Myers Squibb by 3.2% during the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after purchasing an additional 1,051 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Bristol-Myers Squibb by 9.5% in the third quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after purchasing an additional 12,121 shares during the last quarter. Finally, Metis Global Partners LLC lifted its position in shares of Bristol-Myers Squibb by 14.8% in the third quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after buying an additional 13,122 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $43.99 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock has a market cap of $89.17 billion, a P/E ratio of -14.19, a P/E/G ratio of 14.82 and a beta of 0.45. The business’s 50 day moving average price is $50.37 and its 200-day moving average price is $50.65. Bristol-Myers Squibb has a 52 week low of $43.33 and a 52 week high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates 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 positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend was Thursday, April 4th. 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.