Cantor Fitzgerald Reiterates Neutral Rating for Bristol-Myers Squibb (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY)‘s stock had its “neutral” rating reissued by Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $50.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 1.03% from the stock’s previous close.

BMY has been the topic of several other reports. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Barclays upped their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued 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 presently has a consensus rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Stock Down 1.0 %

Bristol-Myers Squibb stock opened at $49.49 on Monday. The stock has a market capitalization of $100.32 billion, a PE ratio of -15.96, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $59.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a 50 day moving average of $47.16 and a 200-day moving average of $46.46.

Bristol-Myers Squibb (NYSE:BMY) last announced 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. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the company posted $1.75 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently made changes to their positions in the stock. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. LGT Financial Advisors LLC raised its holdings in Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter valued at approximately $39,000. Fairman Group LLC bought a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $42,000. Finally, Beach Investment Counsel Inc. PA bought a new position in Bristol-Myers Squibb in the 2nd quarter valued at approximately $42,000. 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.