Bristol-Myers Squibb (NYSE:BMY) Receives $57.67 Consensus PT from Analysts

Bristol-Myers Squibb (NYSE:BMY) has been given a consensus recommendation of “Hold” by the twenty analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $58.00.

Several research firms have recently commented on BMY. Citigroup increased their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Piper Sandler started coverage on shares of Bristol-Myers Squibb in a research report on Tuesday. They issued an “overweight” rating and a $65.00 price objective for the company. Truist Financial upped their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday. Finally, UBS Group cut their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th.

Bristol-Myers Squibb Stock Up 0.3 %

Bristol-Myers Squibb stock opened at $48.66 on Friday. The company has a fifty day simple moving average of $56.50 and a 200 day simple moving average of $56.50. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a market cap of $99.01 billion, a P/E ratio of -11.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The business had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter in the previous year, the business earned ($4.40) earnings per share. Research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.10%. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Insider Activity

In related news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently modified their holdings of the stock. Morse Asset Management Inc grew its stake in Bristol-Myers Squibb by 25.0% during the third quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company’s stock worth $517,000 after buying an additional 2,000 shares in the last quarter. Tudor Financial Inc. bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $250,000. Pine Valley Investments Ltd Liability Co increased its stake in Bristol-Myers Squibb by 1.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 44,897 shares of the biopharmaceutical company’s stock valued at $2,323,000 after acquiring an additional 575 shares during the last quarter. World Investment Advisors LLC raised its position in Bristol-Myers Squibb by 18.7% during the third quarter. World Investment Advisors LLC now owns 44,106 shares of the biopharmaceutical company’s stock valued at $2,282,000 after purchasing an additional 6,954 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new stake in Bristol-Myers Squibb during the third quarter worth $1,724,000. 76.41% of the stock is owned by institutional investors and hedge funds.

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.