Bristol-Myers Squibb (NYSE:BMY) Receives $60.00 Consensus PT from Analysts

Bristol-Myers Squibb (NYSE:BMY) has been assigned a consensus rating of “Hold” from the nineteen ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $60.00.

BMY has been the topic of several research reports. BMO Capital Markets decreased their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Barclays decreased their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of NYSE BMY opened at $42.23 on Friday. The company’s 50-day simple moving average is $43.48 and its 200-day simple moving average is $48.37. Bristol-Myers Squibb has a 52-week low of $39.63 and a 52-week high of $65.38. The firm has a market cap of $85.59 billion, a price-to-earnings ratio of -13.62, a price-to-earnings-growth ratio of 13.89 and a beta of 0.43. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $2.05 earnings per share. Equities analysts predict that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of institutional investors have recently made changes to their positions in the stock. Northwest Financial Advisors acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $27,000. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $27,000. Accordant Advisory Group Inc acquired a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $31,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $40,000. 76.41% of the stock is currently 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.