Bristol-Myers Squibb (NYSE:BMY) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

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

A number of other equities analysts have also issued reports on BMY. TD Cowen raised their target price on shares of 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 reduced 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 report on Tuesday, July 23rd. UBS Group raised their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Trading Down 3.9 %

NYSE BMY opened at $56.22 on Tuesday. The firm’s fifty day moving average price is $52.58 and its 200 day moving average price is $47.15. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market capitalization of $114.02 billion, a price-to-earnings ratio of -15.81, a price-to-earnings-growth ratio of 15.83 and a beta of 0.44.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Bristol-Myers Squibb

Large investors have recently modified their holdings of the business. 3Chopt Investment Partners LLC raised its position in shares of Bristol-Myers Squibb by 10.9% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 50,279 shares of the biopharmaceutical company’s stock worth $2,601,000 after purchasing an additional 4,940 shares during the last quarter. Frisch Financial Group Inc. acquired a new position in shares of Bristol-Myers Squibb in the third quarter worth $213,000. Prestige Wealth Management Group LLC lifted its position in shares of Bristol-Myers Squibb by 25.0% in the third quarter. Prestige Wealth Management Group LLC now owns 28,375 shares of the biopharmaceutical company’s stock valued at $1,468,000 after acquiring an additional 5,670 shares in the last quarter. Abel Hall LLC boosted its stake in shares of Bristol-Myers Squibb by 42.0% during the third quarter. Abel Hall LLC now owns 17,402 shares of the biopharmaceutical company’s stock valued at $900,000 after acquiring an additional 5,143 shares during the last quarter. Finally, Continuum Advisory LLC increased its position in Bristol-Myers Squibb by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 1,506 shares of the biopharmaceutical company’s stock worth $78,000 after purchasing an additional 423 shares in the last quarter. 76.41% of the stock is currently 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.