Bristol-Myers Squibb (NYSE:BMY) Receives $55.79 Consensus PT from Analysts

Bristol-Myers Squibb (NYSE:BMY) has earned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $54.86.

Several research firms have recently issued reports on BMY. BMO Capital Markets reduced their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, Barclays lowered Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target on the stock. in a research note on Monday, July 29th.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently modified their holdings of the business. Northwest Financial Advisors bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $27,000. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the first quarter valued at $27,000. Accordant Advisory Group Inc acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth about $31,000. LGT Financial Advisors LLC raised its position in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $34,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $49.12 on Friday. 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 firm has a market cap of $99.57 billion, a price-to-earnings ratio of -15.85, a P/E/G ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.41. The firm’s 50-day simple moving average is $43.58 and its 200 day simple moving average is $46.61.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.75 earnings per share. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 4.89%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.