UBS Group Raises Bristol-Myers Squibb (NYSE:BMY) Price Target to $54.00

Bristol-Myers Squibb (NYSE:BMY) had its price target boosted by UBS Group from $50.00 to $54.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the company. Barclays upped their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an underweight rating in a report on Monday. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a hold rating in a report on Monday. Cantor Fitzgerald restated a neutral rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. StockNews.com upgraded shares of Bristol-Myers Squibb from a buy rating to a strong-buy rating in a research note on Monday, July 29th. Finally, BMO Capital Markets restated a market perform rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $53.00.

Bristol-Myers Squibb Trading Up 0.6 %

NYSE BMY opened at $52.80 on Wednesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $57.65. 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 stock’s 50 day moving average price is $49.50 and its two-hundred day moving average price is $46.34. The stock has a market capitalization of $107.03 billion, a price-to-earnings ratio of -17.03, a PEG ratio of 12.96 and a beta of 0.46.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently added to or reduced their stakes in the stock. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter valued at about $27,000. LGT Financial Advisors LLC lifted its stake in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at $39,000. Fairman Group LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $42,000. Finally, Beach Investment Counsel Inc. PA bought a new position in Bristol-Myers Squibb in the second quarter valued at about $42,000. Institutional investors own 76.41% of the company’s stock.

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.