Bristol-Myers Squibb (NYSE:BMY) Receives $56.60 Consensus Price Target from Brokerages

Shares of Bristol-Myers Squibb (NYSE:BMY) have been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $56.93.

A number of equities research analysts recently weighed in on BMY shares. Wolfe Research started coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. BMO Capital Markets increased their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th.

Bristol-Myers Squibb Stock Down 1.3 %

BMY opened at $59.15 on Friday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10. The stock’s fifty day simple moving average is $57.63 and its 200 day simple moving average is $53.47. 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 stock has a market cap of $119.97 billion, a PE ratio of -16.48, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently bought and sold shares of the business. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $25,000. Hollencrest Capital Management grew 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 worth $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during 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.