Bristol-Myers Squibb (NYSE:BMY) Stock Price Expected to Rise, Citigroup Analyst Says

Bristol-Myers Squibb (NYSE:BMY) had its price target hoisted by stock analysts at Citigroup from $60.00 to $65.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. Citigroup’s price target points to a potential upside of 7.24% from the company’s previous close.

A number of other research firms have also recently commented on BMY. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Wolfe Research initiated coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. Finally, BMO Capital Markets upped their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.60.

Bristol-Myers Squibb Stock Up 1.6 %

Shares of BMY opened at $60.61 on Tuesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock has a market capitalization of $122.93 billion, a price-to-earnings ratio of -16.88, a PEG ratio of 2.02 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The stock has a fifty day moving average of $57.47 and a 200-day moving average of $52.71.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the business earned $2.00 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently made changes to their positions in the company. Inspire Trust Co. N.A. boosted its holdings in shares of Bristol-Myers Squibb by 39.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after buying an additional 29,044 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $488,000. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after purchasing an additional 11,387 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its position in shares of Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock worth $3,972,000 after purchasing an additional 34,418 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Company Profile

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.