Bristol-Myers Squibb (NYSE:BMY) Given New $61.00 Price Target at BMO Capital Markets

by · The Cerbat Gem

Bristol-Myers Squibb (NYSE:BMY – Free Report) had its target price boosted by BMO Capital Markets from $57.00 to $61.00 in a research report report published on Tuesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on the company. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $73.00 in a research report on Tuesday. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target on the stock. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group boosted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.07.

Read Our Latest Report on Bristol-Myers Squibb

Bristol-Myers Squibb Stock Down 1.3 %

Shares of BMY opened at $59.02 on Tuesday. 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 firm has a market cap of $119.70 billion, a P/E ratio of -16.44, a PEG ratio of 20.09 and a beta of 0.44. The stock’s 50 day moving average is $52.07 and its two-hundred day moving average is $46.89. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last posted 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 company had revenue of $11.89 billion during 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 firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.00 earnings per share. Analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.07%. Bristol-Myers Squibb’s payout ratio is presently -66.85%.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter valued at $25,000. Hollencrest Capital Management boosted its holdings in shares of Bristol-Myers Squibb by 61.3% in 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 in the last quarter. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth about $27,000. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the third quarter valued at about $28,000. Finally, Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter valued at approximately $29,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

About Bristol-Myers Squibb

(Get Free Report)

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.

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