Brokerages Set Bristol-Myers Squibb (NYSE:BMY) Target Price at $59.07

Bristol-Myers Squibb (NYSE:BMY) has been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $57.73.

Several analysts have recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of 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. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective 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.

Bristol-Myers Squibb Trading Up 0.7 %

Bristol-Myers Squibb stock opened at $42.98 on Wednesday. The stock has a 50-day moving average price of $41.60 and a 200 day moving average price of $46.86. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The stock has a market cap of $87.12 billion, a PE ratio of -13.86, a P/E/G ratio of 15.55 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the previous year, the firm posted $2.05 EPS. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that Bristol-Myers Squibb will post 0.55 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.58%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. raised its holdings in Bristol-Myers Squibb by 532.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after acquiring an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. raised its holdings in Bristol-Myers Squibb by 1.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after acquiring an additional 296 shares in the last quarter. Great Diamond Partners LLC raised its holdings in Bristol-Myers Squibb by 9.2% in the fourth quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after acquiring an additional 367 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Bristol-Myers Squibb in the first quarter valued at $5,161,000. Finally, Principal Securities Inc. acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $1,139,000. 76.41% of the stock is 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 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.