Bristol-Myers Squibb’s (BMY) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research report report published on Monday morning, Benzinga reports. The firm currently has a $50.00 price objective on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on BMY. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a hold rating in a research note on Wednesday, August 28th. StockNews.com upgraded Bristol-Myers Squibb from a buy rating to a strong-buy rating in a report on Monday, July 29th. Barclays lifted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an underweight rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Finally, TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a hold rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $55.00.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $50.00 on Monday. The company has a fifty day moving average of $46.99 and a 200-day moving average of $46.47. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $59.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The company has a market capitalization of $101.36 billion, a P/E ratio of -16.13, a P/E/G ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the previous year, the company posted $1.75 EPS. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds have recently made changes to their positions in the company. Gryphon Financial Partners LLC lifted its holdings in shares of Bristol-Myers Squibb by 23.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 995 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in Bristol-Myers Squibb by 19.8% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 62,786 shares of the biopharmaceutical company’s stock valued at $3,222,000 after purchasing an additional 10,373 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in shares of Bristol-Myers Squibb by 4.8% in the 4th quarter. Thoroughbred Financial Services LLC now owns 23,095 shares of the biopharmaceutical company’s stock worth $1,185,000 after purchasing an additional 1,065 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Bristol-Myers Squibb by 12.0% in the fourth quarter. Clearbridge Investments LLC now owns 125,980 shares of the biopharmaceutical company’s stock worth $6,464,000 after purchasing an additional 13,534 shares during the last quarter. Finally, Sachetta LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $57,000. 76.41% of the stock is currently owned by institutional investors.

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.