Brokerages Set Bristol-Myers Squibb (NYSE:BMY) PT at $60.00

Shares of Bristol-Myers Squibb (NYSE:BMY) have been assigned a consensus rating of “Hold” from the nineteen brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $60.00.

BMY has been the topic of several analyst reports. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. BMO Capital Markets cut their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, Barclays lowered their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $44.04 on Friday. The firm has a market cap of $89.27 billion, a PE ratio of -14.21, a price-to-earnings-growth ratio of 14.82 and a beta of 0.45. The firm’s 50 day simple moving average is $50.11 and its 200-day simple moving average is $50.48. Bristol-Myers Squibb has a one year low of $43.33 and a one year high of $69.10. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $2.05 earnings per share. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $25,000. Milestone Investment Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $27,000. Northwest Financial Advisors acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $27,000. Blue Bell Private Wealth Management LLC raised its holdings in Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. Finally, Accordant Advisory Group Inc acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $31,000. 76.41% 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. 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.