Barclays Increases Bristol-Myers Squibb (NYSE:BMY) Price Target to $43.00

by · The Cerbat Gem

Bristol-Myers Squibb (NYSE:BMY – Free Report) had its price target lifted by Barclays from $42.00 to $43.00 in a report issued on Monday, Benzinga reports. They currently have an underweight rating on the biopharmaceutical company’s stock.

BMY has been the subject of several other research reports. TD Cowen raised their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a hold rating in a research note on Monday. Cantor Fitzgerald reaffirmed a neutral rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets restated a market perform rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Finally, StockNews.com upgraded Bristol-Myers Squibb from a buy rating to a strong-buy rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $53.00.

View Our Latest Stock Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $52.80 on Monday. The stock has a market cap of $107.03 billion, a P/E ratio of -17.03, a P/E/G ratio of 12.96 and a beta of 0.46. The firm’s 50-day simple moving average is $49.50 and its 200 day simple moving average is $46.34. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $57.65. 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 (NYSE:BMY – Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the business posted $1.75 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.55%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds have recently made changes to their positions in BMY. Juncture Wealth Strategies LLC lifted its position in Bristol-Myers Squibb by 8.2% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 11,261 shares of the biopharmaceutical company’s stock worth $583,000 after buying an additional 855 shares in the last quarter. Iowa State Bank raised its holdings in shares of Bristol-Myers Squibb by 24.9% during the third quarter. Iowa State Bank now owns 46,885 shares of the biopharmaceutical company’s stock worth $2,426,000 after acquiring an additional 9,354 shares in the last quarter. Ferguson Shapiro LLC boosted its position in Bristol-Myers Squibb by 15.9% during the third quarter. Ferguson Shapiro LLC now owns 5,880 shares of the biopharmaceutical company’s stock valued at $304,000 after purchasing an additional 807 shares during the last quarter. Pine Haven Investment Counsel Inc purchased a new position in Bristol-Myers Squibb in the third quarter valued at about $226,000. Finally, West Coast Financial LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter worth about $211,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

About Bristol-Myers Squibb

(Get Free Report)

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.

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