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

Bristol-Myers Squibb (NYSE:BMY) had its target price lowered by Barclays from $51.00 to $43.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays‘s target price points to a potential downside of 4.78% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $60.71.

Bristol-Myers Squibb Stock Up 1.0 %

Shares of NYSE:BMY traded up $0.46 during trading on Friday, reaching $45.16. 4,362,311 shares of the stock traded hands, compared to its average volume of 15,750,341. Bristol-Myers Squibb has a 52-week low of $44.34 and a 52-week high of $69.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The stock has a 50-day moving average of $51.13 and a two-hundred day moving average of $51.26. The stock has a market cap of $91.53 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.47 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $2.05 EPS. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Institutional Trading of Bristol-Myers Squibb

Large investors have recently made changes to their positions in the business. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb during the third quarter worth $25,000. Milestone Investment Advisors LLC acquired a new position in Bristol-Myers Squibb during the third quarter worth $27,000. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $27,000. Blue Bell Private Wealth Management LLC raised its position in shares of Bristol-Myers Squibb by 61.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. Finally, Accordant Advisory Group Inc acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $31,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

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.