Bristol-Myers Squibb (NYSE:BMY) Price Target Cut to $41.00

Bristol-Myers Squibb (NYSE:BMY) had its price target reduced by analysts at Barclays from $43.00 to $41.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays‘s target price indicates a potential upside of 0.63% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, BMO Capital Markets decreased their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.50.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $40.75 on Wednesday. The business has a 50-day moving average of $41.99 and a 200 day moving average of $47.47. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The stock has a market capitalization of $82.59 billion, a price-to-earnings ratio of -13.14, a price-to-earnings-growth ratio of 13.68 and a beta of 0.44. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BMY. Westside Investment Management Inc. increased its stake in Bristol-Myers Squibb by 2.9% in the fourth quarter. Westside Investment Management Inc. now owns 7,156 shares of the biopharmaceutical company’s stock valued at $367,000 after purchasing an additional 204 shares during the last quarter. Traynor Capital Management Inc. increased its stake in Bristol-Myers Squibb by 2.8% in the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 207 shares during the last quarter. Fulton Breakefield Broenniman LLC increased its stake in Bristol-Myers Squibb by 4.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock valued at $243,000 after purchasing an additional 209 shares during the last quarter. Chapin Davis Inc. increased its stake in Bristol-Myers Squibb by 1.2% in the fourth quarter. Chapin Davis Inc. now owns 18,385 shares of the biopharmaceutical company’s stock valued at $943,000 after purchasing an additional 214 shares during the last quarter. Finally, Accurate Wealth Management LLC increased its stake in Bristol-Myers Squibb by 4.0% in the first quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock valued at $304,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.