Bristol-Myers Squibb (NYSE:BMY) Given New $53.00 Price Target at TD Cowen

Bristol-Myers Squibb (NYSE:BMY) had its price objective hoisted by TD Cowen from $45.00 to $53.00 in a research report released on Monday morning, Benzinga reports. TD Cowen currently has a hold rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently commented on BMY. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a research note on Thursday, April 18th. StockNews.com raised Bristol-Myers Squibb from a buy rating to a strong-buy rating in a research report on Monday, July 29th. BMO Capital Markets reduced their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a research report on Friday, April 26th. Barclays lowered Bristol-Myers Squibb from an overweight rating to an equal weight rating and set a $41.00 price objective for the company. in a research report on Monday, July 29th. Finally, Cantor Fitzgerald reaffirmed a neutral rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $54.86.

Bristol-Myers Squibb Trading Up 0.8 %

NYSE BMY opened at $47.09 on Monday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.41. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.99 and a current ratio of 1.16. The stock has a 50 day simple moving average of $43.13 and a two-hundred day simple moving average of $46.58. The stock has a market cap of $95.46 billion, a P/E ratio of -15.19, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter last year, the business posted $1.75 EPS. The business’s revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.10%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northwest Financial Advisors purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $27,000. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the first quarter valued at about $27,000. Accordant Advisory Group Inc purchased a new position in shares of Bristol-Myers Squibb in the first quarter valued at about $31,000. LGT Financial Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $34,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.