Bristol-Myers Squibb (NYSE:BMY) Receives New Coverage from Analysts at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb (NYSE:BMY) in a report released on Thursday, Marketbeat.com reports. The brokerage issued a market perform rating and a $56.00 price objective on the biopharmaceutical company’s stock.

BMY has been the topic of several other reports. TD Cowen increased their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. UBS Group increased their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets reissued a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Finally, Barclays upped their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $53.20.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $53.22 on Thursday. The stock has a market capitalization of $107.88 billion, a PE ratio of -17.17, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.09. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock’s 50 day simple moving average is $50.36 and its 200 day simple moving average is $46.33.

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

Bristol-Myers Squibb Dividend Announcement

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 4.51%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at about $27,000. LGT Financial Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $34,000. MFA Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at about $39,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at about $42,000. Institutional investors own 76.41% of the company’s stock.

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.