Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $65.00

Bristol-Myers Squibb (NYSE:BMYFree Report) had its target price boosted by Citigroup from $60.00 to $65.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on BMY. Truist Financial increased their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Morgan Stanley upped their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.60.

View Our Latest Stock Report on BMY

Bristol-Myers Squibb Stock Up 0.1 %

Shares of NYSE:BMY opened at $59.11 on Tuesday. The stock has a 50-day simple moving average of $57.59 and a 200-day simple moving average of $53.02. The stock has a market capitalization of $119.88 billion, a P/E ratio of -16.46, a PEG ratio of 2.02 and a beta of 0.45. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the firm earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.20%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Bristol-Myers Squibb

Several hedge funds have recently made changes to their positions in the stock. Algert Global LLC acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth about $328,000. Creative Planning increased its stake in shares of Bristol-Myers Squibb by 38.8% in the second quarter. Creative Planning now owns 531,970 shares of the biopharmaceutical company’s stock valued at $22,093,000 after purchasing an additional 148,588 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 118.5% during the second quarter. NewEdge Advisors LLC now owns 274,740 shares of the biopharmaceutical company’s stock valued at $11,410,000 after buying an additional 148,973 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in Bristol-Myers Squibb by 87.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 18,943 shares of the biopharmaceutical company’s stock worth $787,000 after buying an additional 8,863 shares in the last quarter. Finally, Wallace Advisory Group LLC increased its position in Bristol-Myers Squibb by 8.9% in the 2nd quarter. Wallace Advisory Group LLC now owns 6,646 shares of the biopharmaceutical company’s stock valued at $276,000 after acquiring an additional 542 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Company Profile

(Get Free Report)

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.

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