Bristol-Myers Squibb (NYSE:BMY) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Bristol-Myers Squibb (NYSE:BMY) had its price target lifted by investment analysts at BMO Capital Markets from $53.00 to $57.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 3.19% from the company’s current price.

A number of other analysts have also commented on the stock. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. UBS Group lifted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.08.

Bristol-Myers Squibb Trading Down 1.0 %

BMY stock traded down $0.53 during midday trading on Friday, reaching $55.24. The stock had a trading volume of 4,274,777 shares, compared to its average volume of 14,442,764. The business has a fifty day simple moving average of $51.14 and a two-hundred day simple moving average of $46.54. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.20. The firm has a market cap of $111.99 billion, a price-to-earnings ratio of -16.94, a PEG ratio of 14.62 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the company posted $2.00 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts expect that Bristol-Myers Squibb will post 0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Direct Indexing L.P. lifted its position in Bristol-Myers Squibb by 52.1% in the first quarter. First Trust Direct Indexing L.P. now owns 22,320 shares of the biopharmaceutical company’s stock valued at $1,210,000 after purchasing an additional 7,649 shares during the last quarter. Norden Group LLC boosted its position in Bristol-Myers Squibb by 30.2% during the 1st quarter. Norden Group LLC now owns 13,846 shares of the biopharmaceutical company’s stock valued at $751,000 after acquiring an additional 3,213 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Bristol-Myers Squibb by 10.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 939,078 shares of the biopharmaceutical company’s stock worth $50,926,000 after acquiring an additional 87,690 shares in the last quarter. Connecticut Wealth Management LLC grew its stake in Bristol-Myers Squibb by 7.2% in the first quarter. Connecticut Wealth Management LLC now owns 4,264 shares of the biopharmaceutical company’s stock worth $231,000 after purchasing an additional 286 shares during the period. Finally, StoneX Group Inc. raised its holdings in Bristol-Myers Squibb by 4.2% in the first quarter. StoneX Group Inc. now owns 14,375 shares of the biopharmaceutical company’s stock worth $780,000 after purchasing an additional 583 shares in the last quarter. 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.