Bristol Myers Squibb (NYSE:BMY) Given New $78.00 Price Target at Piper Sandler

Bristol Myers Squibb (NYSE:BMY) had its target price decreased by research analysts at Piper Sandler from $82.00 to $78.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler‘s price objective indicates a potential upside of 26.67% from the stock’s previous close.

A number of other analysts have also weighed in on BMY. Zacks Research lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Thursday. BMO Capital Markets reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, July 27th. Cantor Fitzgerald cut their target price on shares of Bristol Myers Squibb from $59.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Bank of America reduced their price target on shares of Bristol Myers Squibb from $71.00 to $66.00 in a report on Friday, October 9th. Finally, UBS Group cut shares of Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.50.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $61.58 on Monday. The company has a 50 day moving average price of $63.26 and a 200-day moving average price of $60.34. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.38 and a current ratio of 1.53. Bristol Myers Squibb has a fifty-two week low of $42.52 and a fifty-two week high of $68.64. The company has a market capitalization of $125.79 billion, a PE ratio of 13.56, a P/E/G ratio of 0.31 and a beta of 0.19.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.44. The company had revenue of $12.97 billion for the quarter, compared to analysts’ expectations of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%. Bristol Myers Squibb’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, equities analysts forecast that Bristol Myers Squibb will post 6.51 earnings per share for the current year.

Insider Buying and Selling

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the transaction, the senior vice president directly owned 16,862 shares in the company, valued at approximately $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Institutional Trading of Bristol Myers Squibb

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in Bristol Myers Squibb by 5.1% in the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after purchasing an additional 8,702,106 shares during the last quarter. State Street Corp lifted its holdings in shares of Bristol Myers Squibb by 7.3% during the 2nd quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock valued at $6,093,755,000 after purchasing an additional 7,192,724 shares during the last quarter. Primecap Management Co. CA purchased a new stake in shares of Bristol Myers Squibb during the 2nd quarter valued at $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Bristol Myers Squibb by 0.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company’s stock worth $1,315,984,000 after purchasing an additional 119,690 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Bristol Myers Squibb by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company’s stock worth $1,137,847,000 after purchasing an additional 520,330 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

About Bristol Myers Squibb

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company’s portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.