Bristol-Myers Squibb (NYSE:BMY) Given New $52.00 Price Target at Wells Fargo & Company

Bristol-Myers Squibb (NYSE:BMY) had its price target boosted by Wells Fargo & Company from $51.00 to $52.00 in a research note published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on the stock. Societe Generale lowered shares of Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a buy rating to a neutral rating and dropped their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Bank of America lowered shares of Bristol-Myers Squibb from a buy rating to a neutral rating and dropped their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. William Blair reissued a market perform rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $61.18.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $48.30 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The company has a fifty day moving average of $51.25 and a two-hundred day moving average of $51.57. The stock has a market capitalization of $97.89 billion, a PE ratio of 12.51, a P/E/G ratio of 1.49 and a beta of 0.39. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the firm earned $1.82 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts forecast that Bristol-Myers Squibb will post 6.47 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.97%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BMY. OFI Invest Asset Management acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $25,000. True Wealth Design LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $26,000. Milestone Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $27,000. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $27,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth about $28,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

About Bristol-Myers Squibb

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.