Bristol-Myers Squibb (NYSE:BMY) Price Target Increased to $53.00 by Analysts at UBS Group

Bristol-Myers Squibb (NYSE:BMY) had its price target boosted by UBS Group from $51.00 to $53.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

BMY has been the subject of a number of other reports. Atlantic Securities upgraded shares of Bristol-Myers Squibb from a neutral rating to an overweight rating and set a $63.00 target price for the company in a research report on Wednesday, August 14th. TheStreet raised shares of Bristol-Myers Squibb from a c+ rating to a b- rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. set a $62.00 price objective on shares of Bristol-Myers Squibb and gave the company a buy rating in a report on Friday, September 13th. ValuEngine cut shares of Bristol-Myers Squibb from a hold rating to a sell rating in a report on Saturday, October 19th. Finally, Bank of America started coverage on shares of Bristol-Myers Squibb in a report on Wednesday, October 16th. They issued a buy rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Bristol-Myers Squibb currently has an average rating of Buy and a consensus target price of $55.86.

NYSE BMY traded down $0.40 on Wednesday, reaching $54.37. 14,641,485 shares of the company’s stock traded hands, compared to its average volume of 15,165,238. The firm has a market cap of $89.02 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 1.28 and a beta of 0.72. The stock has a 50 day moving average price of $50.51 and a 200-day moving average price of $47.36. Bristol-Myers Squibb has a fifty-two week low of $42.48 and a fifty-two week high of $57.37. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. The company had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 4.28 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.02%. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.

In related news, Director Robert J. Bertolini bought 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average price of $44.72 per share, with a total value of $491,920.00. Following the completion of the purchase, the director now directly owns 11,397 shares of the company’s stock, valued at $509,673.84. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Guardian Investment Management boosted its position in Bristol-Myers Squibb by 8.2% during the third quarter. Guardian Investment Management now owns 46,264 shares of the biopharmaceutical company’s stock worth $2,346,000 after acquiring an additional 3,510 shares during the last quarter. Capital Investment Advisors LLC boosted its position in Bristol-Myers Squibb by 7.7% during the third quarter. Capital Investment Advisors LLC now owns 97,385 shares of the biopharmaceutical company’s stock worth $4,938,000 after acquiring an additional 6,956 shares during the last quarter. Trust Co. of Vermont boosted its position in Bristol-Myers Squibb by 2.2% during the third quarter. Trust Co. of Vermont now owns 57,679 shares of the biopharmaceutical company’s stock worth $2,925,000 after acquiring an additional 1,229 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Bristol-Myers Squibb by 30.3% during the third quarter. Quadrant Capital Group LLC now owns 16,462 shares of the biopharmaceutical company’s stock worth $822,000 after acquiring an additional 3,826 shares during the last quarter. Finally, Foster & Motley Inc. acquired a new position in Bristol-Myers Squibb during the third quarter worth about $244,000. 80.25% 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. 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.

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