Bristol-Myers Squibb (NYSE:BMY) Given New $51.00 Price Target at Jefferies Financial Group

Bristol-Myers Squibb (NYSE:BMY) had its price objective raised by equities researchers at Jefferies Financial Group from $49.00 to $51.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 3.85% from the company’s previous close.

A number of other research analysts have also issued reports on BMY. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Barclays increased their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Finally, TD Cowen boosted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded up $0.99 during midday trading on Wednesday, reaching $49.11. 5,204,829 shares of the stock traded hands, compared to its average volume of 15,504,943. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The stock has a market capitalization of $99.55 billion, a PE ratio of -15.83, a P/E/G ratio of 12.51 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. The company’s 50 day moving average is $44.52 and its 200 day moving average is $46.56.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently made changes to their positions in BMY. Birmingham Capital Management Co. Inc. AL grew its holdings in shares of Bristol-Myers Squibb by 3.2% during the second quarter. Birmingham Capital Management Co. Inc. AL now owns 45,141 shares of the biopharmaceutical company’s stock worth $1,875,000 after buying an additional 1,416 shares in the last quarter. New Century Financial Group LLC raised its holdings in Bristol-Myers Squibb by 1.4% during the 2nd quarter. New Century Financial Group LLC now owns 21,234 shares of the biopharmaceutical company’s stock worth $882,000 after buying an additional 296 shares during the period. Founders Financial Alliance LLC lifted its holdings in shares of Bristol-Myers Squibb by 18.1% during the 2nd quarter. Founders Financial Alliance LLC now owns 8,390 shares of the biopharmaceutical company’s stock valued at $348,000 after buying an additional 1,287 shares during the last quarter. 3Chopt Investment Partners LLC increased its position in Bristol-Myers Squibb by 19.7% in the 2nd quarter. 3Chopt Investment Partners LLC now owns 45,339 shares of the biopharmaceutical company’s stock worth $1,883,000 after buying an additional 7,465 shares during the period. Finally, Kimelman & Baird LLC bought a new position in shares of Bristol-Myers Squibb during the second quarter valued at $932,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.