UBS Group Increases Bristol-Myers Squibb (NYSE:BMY) Price Target to $54.00

Bristol-Myers Squibb (NYSE:BMY) had its price target raised by analysts at UBS Group from $50.00 to $54.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. UBS Group’s price objective suggests a potential upside of 2.27% from the company’s current price.

BMY has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft decreased their price target on 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. Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. 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 upped their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, TD Cowen raised their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.00.

Bristol-Myers Squibb Trading Up 0.6 %

NYSE BMY traded up $0.32 on Wednesday, hitting $52.80. 10,394,697 shares of the stock were exchanged, compared to its average volume of 15,009,663. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $57.65. The firm has a market capitalization of $107.03 billion, a P/E ratio of -17.03, a P/E/G ratio of 12.96 and a beta of 0.46. The stock has a fifty day moving average price of $49.50 and a two-hundred day moving average price of $46.34.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the previous year, the company earned $1.75 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital International Investors grew its holdings in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Bristol-Myers Squibb by 1.0% in the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after purchasing an additional 225,197 shares during the period. Legal & General Group Plc lifted its holdings in shares of Bristol-Myers Squibb by 3.8% during the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock worth $839,946,000 after purchasing an additional 735,613 shares during the period. Independent Franchise Partners LLP boosted its position in Bristol-Myers Squibb by 4.0% in the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after buying an additional 556,295 shares during the last quarter. Finally, Pzena Investment Management LLC increased its holdings in Bristol-Myers Squibb by 15.0% in the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after buying an additional 1,840,424 shares during the period. 76.41% of the stock is 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.