Bristol-Myers Squibb (NYSE:BMY) Coverage Initiated at Sanford C. Bernstein

Research analysts at Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set a “market perform” rating and a $56.00 price target on the biopharmaceutical company’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 5.20% from the company’s previous close.

Several other research firms have also issued reports on BMY. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. TD Cowen boosted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft decreased their target price on 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. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Finally, UBS Group boosted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Price Performance

BMY opened at $53.23 on Thursday. The stock has a 50-day moving average price of $50.36 and a 200-day moving average price of $46.42. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The firm has a market cap of $107.90 billion, a PE ratio of -17.17, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.09.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 EPS. Sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at approximately $27,000. LGT Financial Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at approximately $34,000. MFA Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at approximately $39,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at approximately $42,000. 76.41% of the stock is currently owned by institutional investors.

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.