Bristol-Myers Squibb’s (BMY) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note released on Friday morning, Benzinga reports. They currently have a $50.00 target price on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on BMY. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group boosted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on 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. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.20.

Bristol-Myers Squibb Trading Down 2.1 %

Shares of BMY stock opened at $52.11 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.77. The stock has a market capitalization of $105.63 billion, a P/E ratio of -16.81, a P/E/G ratio of 13.75 and a beta of 0.46. The firm’s 50 day moving average is $50.46 and its 200 day moving average is $46.34.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the prior year, the firm earned $1.75 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Large investors have recently made changes to their positions in the company. Global Assets Advisory LLC bought a new stake in Bristol-Myers Squibb in the 1st quarter worth approximately $5,161,000. Lincoln National Corp grew its holdings in shares of Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after purchasing an additional 3,052 shares in the last quarter. Chapin Davis Inc. raised its stake in Bristol-Myers Squibb by 22.6% during the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after purchasing an additional 4,159 shares in the last quarter. Accel Wealth Management lifted its position in Bristol-Myers Squibb by 19.0% during the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 788 shares during the last quarter. Finally, Brookstone Capital Management grew its stake in shares of Bristol-Myers Squibb by 36.4% in the 1st quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock worth $8,137,000 after buying an additional 40,018 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

About Bristol-Myers Squibb

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.