Bristol Myers Squibb (NYSE:BMY) Stock Price Target Cut by Cantor Fitzgerald

Bristol Myers Squibb (NYSE:BMY) had its price objective decreased by equities researchers at Cantor Fitzgerald from $59.00 to $53.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential downside of 11.20% from the stock’s previous close.

A number of other equities analysts have also commented on BMY. Piper Sandler reissued an “overweight” rating and issued a $82.00 price target (up from $75.00) on shares of Bristol Myers Squibb in a report on Wednesday, September 16th. Raymond James Financial assumed coverage on shares of Bristol Myers Squibb in a research report on Wednesday, August 5th. They issued a “strong-buy” rating for the company. UBS Group cut Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $63.00 price target on shares of Bristol Myers Squibb in a research note on Wednesday, September 23rd. Finally, Bank of America cut their price objective on Bristol Myers Squibb from $67.00 to $66.00 and set a “buy” rating for the company in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.72.

Bristol Myers Squibb Stock Performance

Shares of BMY opened at $59.69 on Thursday. The company has a market cap of $121.92 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.28 and a beta of 0.19. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89. The stock has a 50-day moving average price of $64.38 and a 200-day moving average price of $60.27. Bristol Myers Squibb has a 12-month low of $42.52 and a 12-month high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.44. The company had revenue of $12.97 billion for the quarter, compared to analysts’ expectations of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. Bristol Myers Squibb’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, equities analysts forecast that Bristol Myers Squibb will post 6.95 earnings per share for the current fiscal year.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total transaction of $33,750.00. Following the completion of the sale, the senior vice president directly owned 16,862 shares in the company, valued at $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bristol Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the stock. Davis Asset Management L.P. purchased a new position in Bristol Myers Squibb in the 2nd quarter worth approximately $27,000. Addison Advisors LLC purchased a new position in shares of Bristol Myers Squibb in the second quarter worth $32,000. Bayban bought a new stake in Bristol Myers Squibb during the 4th quarter valued at $31,000. Groupe la Francaise raised its holdings in Bristol Myers Squibb by 562.9% during the 2nd quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 501 shares during the last quarter. Finally, Kilter Group LLC purchased a new stake in Bristol Myers Squibb during the 2nd quarter valued at $35,000. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its research and commercial activities focus primarily on oncology, hematology, immunology, cardiovascular disease and neuroscience. The company serves patients and healthcare providers in the United States and international markets.

Bristol Myers Squibb’s portfolio includes medicines such as Opdivo and Yervoy for certain cancers, Eliquis for the prevention of blood clots and stroke, Revlimid and Pomalyst for blood cancers, and Abraxane for certain solid tumors.