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

Bristol-Myers Squibb (NYSE:BMY) had its price target raised by Truist Financial from $62.00 to $65.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently weighed in on BMY. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. TD Cowen upped their price target 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 Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, UBS Group upped their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Price Performance

BMY opened at $55.84 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The company’s 50-day moving average price is $57.44 and its 200 day moving average price is $51.43. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The firm has a market cap of $113.25 billion, a price-to-earnings ratio of -15.55, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 EPS. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 in the company, valued at approximately $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 owned by corporate insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of institutional investors have recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $25,000. Hollencrest Capital Management lifted its holdings in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $29,000. Finally, Valued Wealth Advisors LLC increased its position in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. 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.