Bristol-Myers Squibb Co (NYSE:BMY) Receives $56.10 Consensus PT from Analysts

Shares of Bristol-Myers Squibb Co (NYSE:BMY) have been assigned a consensus rating of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $56.03.

A number of research analysts have weighed in on the company. ValuEngine downgraded Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Tuesday, May 7th. UBS Group decreased their price target on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, June 13th. Barclays upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $53.00 to $55.00 in a research note on Friday, May 3rd. Finally, Goldman Sachs Group assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, May 28th. They issued a “buy” rating and a $54.00 price target for the company.

In other Bristol-Myers Squibb news, Director Robert J. Bertolini acquired 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was bought at an average cost of $44.72 per share, with a total value of $491,920.00. Following the completion of the transaction, the director now directly owns 11,397 shares in the company, valued at approximately $509,673.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Theodore R. Samuels II acquired 5,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was acquired at an average cost of $47.29 per share, with a total value of $236,450.00. Following the completion of the transaction, the director now owns 27,000 shares of the company’s stock, valued at $1,276,830. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BMY. Legal & General Group Plc increased its stake in shares of Bristol-Myers Squibb by 5.9% in the 4th quarter. Legal & General Group Plc now owns 8,568,445 shares of the biopharmaceutical company’s stock valued at $445,300,000 after purchasing an additional 474,820 shares during the last quarter. Lodestar Investment Counsel LLC IL increased its stake in shares of Bristol-Myers Squibb by 5.2% in the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock valued at $5,157,000 after purchasing an additional 5,579 shares during the last quarter. Perella Weinberg Partners Capital Management LP increased its stake in shares of Bristol-Myers Squibb by 10.9% in the 1st quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 1,905 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Bristol-Myers Squibb by 30.7% in the 1st quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock valued at $10,331,000 after purchasing an additional 50,798 shares during the last quarter. Finally, Nachman Norwood & Parrott Inc increased its stake in shares of Bristol-Myers Squibb by 3.5% in the 2nd quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock valued at $2,285,000 after purchasing an additional 1,687 shares during the last quarter. 77.37% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:BMY traded down $0.02 during mid-day trading on Tuesday, reaching $46.49. 8,363,119 shares of the stock were exchanged, compared to its average volume of 16,761,281. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $77.40 billion, a P/E ratio of 11.68, a P/E/G ratio of 2.34 and a beta of 0.73. Bristol-Myers Squibb has a one year low of $42.48 and a one year high of $63.69. The business’s 50 day moving average price is $45.29.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.12. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. Bristol-Myers Squibb’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share. As a group, research analysts forecast that Bristol-Myers Squibb will post 4.26 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a $0.41 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.53%. Bristol-Myers Squibb’s payout ratio is 41.21%.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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