Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $61.00 at BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY) had its price objective hoisted by BMO Capital Markets from $57.00 to $61.00 in a report published on Tuesday,Benzinga reports. They currently have a market perform rating on the biopharmaceutical company’s stock.

BMY has been the topic of several other research reports. UBS Group boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Jefferies Financial Group increased 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. Deutsche Bank Aktiengesellschaft lowered 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 report on Tuesday, July 23rd. Finally, Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Trading Down 1.3 %

Shares of BMY stock opened at $59.02 on Tuesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock has a fifty day simple moving average of $52.07 and a two-hundred day simple moving average of $46.89. The firm has a market capitalization of $119.70 billion, a PE ratio of -16.44, a PEG ratio of 20.09 and a beta of 0.44. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the company earned $2.00 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.07%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of large investors have recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the period. Graypoint LLC boosted its holdings in shares of Bristol-Myers Squibb by 29.4% in the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after acquiring an additional 2,563 shares during the last quarter. Xponance Inc. increased its stake in shares of Bristol-Myers Squibb by 8.8% in the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after acquiring an additional 25,543 shares during the period. Plato Investment Management Ltd lifted its position in Bristol-Myers Squibb by 25.4% during the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after purchasing an additional 21,041 shares during the period. Finally, Meritage Portfolio Management grew its position in Bristol-Myers Squibb by 1,874.9% during the 3rd quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company’s stock worth $5,602,000 after purchasing an additional 102,782 shares during the period. 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.