Bristol-Myers Squibb (NYSE:BMY) Receives $54.07 Average PT from Brokerages

Bristol-Myers Squibb (NYSE:BMY) has earned an average recommendation of “Hold” from the twenty research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $54.07.

A number of brokerages recently issued reports on BMY. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC boosted its position in Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 206 shares during the period. Sheaff Brock Investment Advisors LLC grew its stake in Bristol-Myers Squibb by 34.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after purchasing an additional 11,387 shares in the last quarter. Graypoint LLC increased its holdings in Bristol-Myers Squibb by 29.4% during the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after purchasing an additional 2,563 shares during the period. Xponance Inc. raised its position in Bristol-Myers Squibb by 8.8% during the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after purchasing an additional 25,543 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its holdings in shares of Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after buying an additional 21,041 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

BMY opened at $58.87 on Tuesday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a market cap of $119.40 billion, a price-to-earnings ratio of -16.40, a PEG ratio of 15.62 and a beta of 0.44. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The company’s 50 day moving average is $53.66 and its 200 day moving average is $47.74.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.00 EPS. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

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.