Bristol-Myers Squibb (BMY) PT Lowered to $59.00 at Morgan Stanley

Bristol-Myers Squibb (NYSE:BMY) had its price target dropped by research analysts at Morgan Stanley from $63.00 to $59.00 in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target would suggest a potential upside of 11.34% from the stock’s current price.

Several other research firms have also commented on BMY. Barclays upped their price target on shares of Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 12th. Credit Suisse Group set a $61.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Sunday, October 14th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Friday, October 5th. ValuEngine lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Finally, Jefferies Financial Group set a $58.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Sunday, July 15th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $62.48.

BMY stock opened at $52.99 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 1.40. Bristol-Myers Squibb has a 1-year low of $46.94 and a 1-year high of $70.05. The firm has a market cap of $83.81 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.18. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. The firm had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.72 billion. Equities research analysts predict that Bristol-Myers Squibb will post 3.88 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in BMY. BlackRock Inc. grew its position in Bristol-Myers Squibb by 7.2% in the 2nd quarter. BlackRock Inc. now owns 111,913,559 shares of the biopharmaceutical company’s stock valued at $6,193,296,000 after buying an additional 7,517,623 shares in the last quarter. Janus Henderson Group PLC grew its position in Bristol-Myers Squibb by 114.5% in the 2nd quarter. Janus Henderson Group PLC now owns 6,922,917 shares of the biopharmaceutical company’s stock valued at $383,119,000 after buying an additional 3,695,485 shares in the last quarter. Point72 Asset Management L.P. grew its position in Bristol-Myers Squibb by 4,455.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,416,898 shares of the biopharmaceutical company’s stock valued at $189,091,000 after buying an additional 3,341,898 shares in the last quarter. Schroder Investment Management Group grew its position in Bristol-Myers Squibb by 419.0% in the 2nd quarter. Schroder Investment Management Group now owns 3,851,748 shares of the biopharmaceutical company’s stock valued at $213,003,000 after buying an additional 3,109,664 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Bristol-Myers Squibb by 44.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,460,148 shares of the biopharmaceutical company’s stock valued at $587,287,000 after buying an additional 2,903,920 shares in the last quarter. Hedge funds and other institutional investors own 72.54% of the company’s stock.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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