Bristol-Myers Squibb (NYSE:BMY) Given New $45.00 Price Target at Deutsche Bank Aktiengesellschaft

Bristol-Myers Squibb (NYSE:BMY) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $53.00 to $45.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on BMY. Barclays reduced their price objective on Bristol-Myers Squibb from $43.00 to $41.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Cantor Fitzgerald restated a neutral rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. BMO Capital Markets reduced their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a research report on Friday, April 26th. William Blair restated a market perform rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of Hold and a consensus target price of $57.73.

Bristol-Myers Squibb Stock Up 11.3 %

Bristol-Myers Squibb stock opened at $50.40 on Tuesday. The stock has a market cap of $102.17 billion, a PE ratio of -16.26, a price-to-earnings-growth ratio of 16.73 and a beta of 0.44. 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 has a one year low of $39.35 and a one year high of $63.41. The stock has a fifty day moving average of $41.76 and a 200 day moving average of $46.82.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.40. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.75 earnings per share. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.53 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. Northwest Financial Advisors purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $27,000. Accordant Advisory Group Inc purchased a new stake in shares of Bristol-Myers Squibb in the first quarter worth approximately $31,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $40,000. 76.41% of the stock is owned by 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.