Bristol-Myers Squibb (NYSE:BMY) had its price objective upped by BMO Capital Markets to $62.00 in a report published on Wednesday morning, The Fly reports. They currently have an outperform rating on the biopharmaceutical company’s stock.
Several other research analysts have also recently commented on BMY. William Blair reiterated an outperform rating on shares of Bristol-Myers Squibb in a research note on Tuesday, November 27th. ValuEngine upgraded Bristol-Myers Squibb from a sell rating to a hold rating in a research note on Friday, December 7th. Credit Suisse Group reiterated a hold rating and issued a $59.00 price target on shares of Bristol-Myers Squibb in a research note on Thursday, December 13th. Morgan Stanley set a $54.00 price target on Bristol-Myers Squibb and gave the stock a hold rating in a research note on Thursday, December 20th. Finally, Zacks Investment Research cut Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $59.13.
NYSE:BMY opened at $48.16 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 1.61. Bristol-Myers Squibb has a one year low of $44.30 and a one year high of $64.05. The stock has a market capitalization of $79.87 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 2.50 and a beta of 0.81.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, January 24th. The biopharmaceutical company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.09. Bristol-Myers Squibb had a return on equity of 48.99% and a net margin of 21.95%. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Bristol-Myers Squibb will post 4.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
A number of institutional investors have recently made changes to their positions in the stock. Capital Financial Planning LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Well Done LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $30,000. Riverview Trust Co bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $33,000. Portfolio Solutions LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $37,000. Finally, Gantzert Investment Co. LLC ADV bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $39,000. 73.14% of the stock is owned by hedge funds and other institutional investors.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
Featured Article: How do investors use RSI to grade stocks?
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.