Bristol Myers Squibb (NYSE:BMY) Price Target Cut to $45.00 by Analysts at Citigroup

Bristol Myers Squibb (NYSE:BMY) had its price target decreased by equities research analysts at Citigroup from $48.00 to $45.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Citigroup’s price target indicates a potential downside of 4.73% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Sanford C. Bernstein restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. Scotiabank began coverage on shares of Bristol Myers Squibb in a report on Thursday. They set a “sector perform” rating and a $45.00 target price for the company. Finally, Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.42.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY traded up $0.58 during mid-day trading on Monday, reaching $47.23. The company’s stock had a trading volume of 2,102,969 shares, compared to its average volume of 13,777,787. The stock has a fifty day moving average of $45.34 and a two-hundred day moving average of $46.65. Bristol Myers Squibb has a 52 week low of $42.52 and a 52 week high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The firm has a market capitalization of $96.15 billion, a PE ratio of 19.02, a P/E/G ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.11. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, sell-side analysts anticipate that Bristol Myers Squibb will post 6.74 EPS for the current fiscal year.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bristol Myers Squibb

Several institutional investors have recently bought and sold shares of BMY. New England Asset Management Inc. grew its stake in shares of Bristol Myers Squibb by 0.8% in the first quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock valued at $2,408,000 after buying an additional 305 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Bristol Myers Squibb by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock valued at $78,580,000 after purchasing an additional 13,959 shares in the last quarter. Commonwealth Retirement Investments LLC grew its position in shares of Bristol Myers Squibb by 24.6% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock worth $2,740,000 after acquiring an additional 11,690 shares in the last quarter. Sage Capital Advisors llc boosted its holdings in shares of Bristol Myers Squibb by 60.7% in the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock valued at $3,946,000 after buying an additional 32,181 shares during the period. Finally, Sound View Wealth Advisors Group LLC increased its position in Bristol Myers Squibb by 438.0% in the second quarter. Sound View Wealth Advisors Group LLC now owns 307,849 shares of the biopharmaceutical company’s stock worth $14,250,000 after buying an additional 250,624 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Company Profile

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.