BMO Capital Markets Lowers Bristol-Myers Squibb (BMY) Price Target to $51.00

Bristol-Myers Squibb (NYSE:BMY) had its price objective trimmed by BMO Capital Markets from $52.00 to $51.00 in a research note published on Tuesday, February 6th. The brokerage currently has an underperform rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently issued reports on the company. Piper Jaffray Companies reissued a hold rating and set a $60.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 27th. Vetr raised Bristol-Myers Squibb from a sell rating to a hold rating and set a $60.72 target price for the company in a research note on Thursday, February 1st. Leerink Swann increased their target price on Bristol-Myers Squibb from $71.00 to $76.00 and gave the stock a positive rating in a research note on Tuesday, February 6th. Jefferies Group downgraded Bristol-Myers Squibb from a buy rating to a hold rating and set a $72.00 target price for the company. in a research note on Monday, October 16th. Finally, Zacks Investment Research downgraded Bristol-Myers Squibb from a hold rating to a sell rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $65.58.

Shares of Bristol-Myers Squibb (BMY) traded up $1.69 during midday trading on Tuesday, hitting $65.56. The company had a trading volume of 7,560,000 shares, compared to its average volume of 8,720,000. The firm has a market cap of $107,300.00, a PE ratio of 111.12, a PEG ratio of 1.96 and a beta of 1.08. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.47. Bristol-Myers Squibb has a 1 year low of $51.56 and a 1 year high of $66.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Bristol-Myers Squibb had a return on equity of 33.68% and a net margin of 4.85%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. research analysts forecast that Bristol-Myers Squibb will post 3.22 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, January 5th were given a dividend of $0.40 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.60 annualized dividend and a yield of 2.44%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 271.19%.

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II acquired 4,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average price of $62.30 per share, for a total transaction of $249,200.00. Following the completion of the acquisition, the director now directly owns 22,000 shares of the company’s stock, valued at $1,370,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total value of $335,172.00. Following the sale, the executive vice president now owns 9,251 shares in the company, valued at approximately $585,033.24. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Delphi Private Advisors LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at $108,000. Massey Quick Simon & CO. LLC boosted its holdings in Bristol-Myers Squibb by 523.5% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,777 shares of the biopharmaceutical company’s stock valued at $113,000 after acquiring an additional 1,492 shares during the last quarter. Horan Capital Advisors LLC. acquired a new position in Bristol-Myers Squibb in the third quarter valued at $122,000. NuWave Investment Management LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at $119,000. Finally, Tradewinds Capital Management LLC boosted its holdings in Bristol-Myers Squibb by 34.6% in the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 69.56% of the company’s stock.

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About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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