Bristol-Myers Squibb (NYSE:BMY) Price Target Cut to $66.00 by Analysts at TD Cowen

Bristol-Myers Squibb (NYSE:BMY) had its price target trimmed by TD Cowen from $80.00 to $66.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a market perform rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $87.00 to $79.00 and set an outperform rating for the company in a report on Friday, July 28th. Daiwa Capital Markets began coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, June 28th. They issued an outperform rating and a $70.00 price objective for the company. Credit Suisse Group decreased their price objective on shares of Bristol-Myers Squibb from $72.00 to $66.00 in a research note on Wednesday, July 12th. Cantor Fitzgerald decreased their price objective on shares of Bristol-Myers Squibb from $88.00 to $85.00 and set an overweight rating for the company in a research note on Wednesday, July 19th. Finally, Morgan Stanley reissued an underweight rating and issued a $59.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of Hold and an average price target of $70.67.

Bristol-Myers Squibb Trading Down 0.8 %

Shares of Bristol-Myers Squibb stock opened at $58.58 on Friday. The firm has a market cap of $122.38 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.57 and a beta of 0.42. The business has a 50-day moving average price of $61.62 and a 200-day moving average price of $65.11. The company has a quick ratio of 1.28, a current ratio of 1.39 and a debt-to-equity ratio of 1.08. Bristol-Myers Squibb has a twelve month low of $58.33 and a twelve month high of $81.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $11.81 billion. Bristol-Myers Squibb had a net margin of 17.62% and a return on equity of 50.51%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 EPS. Equities research analysts anticipate that Bristol-Myers Squibb will post 7.49 EPS for the current fiscal year.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the completion of the sale, the executive vice president now owns 27,868 shares of the company’s stock, valued at $1,706,915. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Robert M. Plenge sold 732 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total transaction of $44,754.48. Following the completion of the sale, the executive vice president now owns 6,584 shares of the company’s stock, valued at approximately $402,545.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the sale, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at approximately $1,706,915. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently made changes to their positions in the stock. Northwest Capital Management Inc acquired a new stake in Bristol-Myers Squibb during the 2nd quarter worth approximately $26,000. True Wealth Design LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $26,000. Coppell Advisory Solutions LLC purchased a new position in Bristol-Myers Squibb during the 2nd quarter worth $28,000. GoalVest Advisory LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter worth $29,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $31,000. 74.98% of the stock is currently 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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.