Bristol-Myers Squibb (NYSE:BMY) PT Raised to $51.00

Bristol-Myers Squibb (NYSE:BMY) had its target price increased by equities research analysts at Jefferies Financial Group from $49.00 to $51.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 2.55% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on BMY. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $54.67.

Bristol-Myers Squibb Trading Up 1.4 %

NYSE BMY opened at $49.73 on Wednesday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.03. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $100.81 billion, a PE ratio of -16.04, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44. The firm’s fifty day simple moving average is $44.83 and its 200-day simple 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 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate 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 prior year, the business posted $1.75 earnings per share. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently modified their holdings of BMY. Great Diamond Partners LLC boosted its position in shares of Bristol-Myers Squibb by 9.2% during the fourth quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 367 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $5,161,000. Principal Securities Inc. bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $1,139,000. Lincoln National Corp raised its holdings in shares of Bristol-Myers Squibb by 7.7% during the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after acquiring an additional 3,052 shares during the period. Finally, Chapin Davis Inc. lifted its position in Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after acquiring an additional 4,159 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.