Bristol-Myers Squibb Company (BMY) Given a $49.00 Price Target by BMO Capital Markets Analysts

BMO Capital Markets set a $49.00 price objective on Bristol-Myers Squibb Company (NYSE:BMY) in a report released on Thursday. The firm currently has a sell rating on the biopharmaceutical company’s stock.

Other equities analysts also recently issued reports about the stock. Cowen and Company reaffirmed a hold rating and set a $65.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, September 19th. Jefferies Group LLC boosted their price target on shares of Bristol-Myers Squibb from $66.00 to $72.00 and gave the company a buy rating in a research report on Monday, September 11th. Vetr cut shares of Bristol-Myers Squibb from a buy rating to a hold rating and set a $63.67 price target on the stock. in a research report on Thursday, September 28th. UBS AG reiterated a buy rating and set a $72.00 price target (up previously from $62.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. Finally, Hilliard Lyons cut shares of Bristol-Myers Squibb from a long-term buy rating to a neutral rating and set a $65.00 price target on the stock. in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $63.21.

Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 65.29 on Thursday. The company has a 50-day moving average price of $62.78 and a 200-day moving average price of $56.98. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $66.10. The firm has a market capitalization of $107.07 billion, a P/E ratio of 23.85 and a beta of 1.19.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. Equities analysts predict that Bristol-Myers Squibb will post $2.98 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.39%. Bristol-Myers Squibb’s dividend payout ratio is presently 56.73%.

In related news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $1,006,920. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in shares of Bristol-Myers Squibb by 108.5% during the second quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after acquiring an additional 7,020,200 shares during the last quarter. Franklin Resources Inc. grew its position in Bristol-Myers Squibb by 185.2% in the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock valued at $339,830,000 after buying an additional 3,960,191 shares during the last quarter. Janus Henderson Group PLC grew its position in Bristol-Myers Squibb by 2,990.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock valued at $202,494,000 after buying an additional 3,516,536 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Bristol-Myers Squibb by 42,071.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock valued at $185,634,000 after buying an additional 3,323,649 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Bristol-Myers Squibb by 18.7% in the 1st quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after buying an additional 2,451,390 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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