Cantor Fitzgerald Issues Positive Forecast for Bristol-Myers Squibb (NYSE:BMY) Stock Price

Bristol-Myers Squibb (NYSE:BMY) had its price objective upped by Cantor Fitzgerald from $50.00 to $55.00 in a report issued on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Bristol-Myers Squibb’s FY2024 earnings at $0.93 EPS and FY2025 earnings at $6.65 EPS.

A number of other equities analysts also recently commented on the company. TD Cowen lifted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Finally, Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.14.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $57.43 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The business has a 50 day moving average of $57.65 and a two-hundred day moving average of $53.63. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The company has a market cap of $116.47 billion, a P/E ratio of -16.00, a PEG ratio of 2.10 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.32%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is -69.08%.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently added to or reduced their stakes in the company. Vestmark Advisory Solutions Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $421,000. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Bristol-Myers Squibb by 8.4% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 4,514 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 349 shares in the last quarter. Ethos Financial Group LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $53,000. Lindbrook Capital LLC grew its holdings in shares of Bristol-Myers Squibb by 13.4% during the 4th quarter. Lindbrook Capital LLC now owns 12,654 shares of the biopharmaceutical company’s stock valued at $716,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Carmel Capital Partners LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $212,000. 76.41% of the stock is owned by institutional investors and hedge funds.

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.