BMO Capital Markets Cuts Bristol-Myers Squibb (NYSE:BMY) Price Target to $48.00

Bristol-Myers Squibb (NYSE:BMY) had its price objective decreased by BMO Capital Markets from $55.00 to $48.00 in a research report report published on Friday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. Bank of America downgraded Bristol-Myers Squibb from a buy rating to a neutral rating and cut their price target for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Barclays reduced their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating for the company in a report on Friday. StockNews.com cut shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a report on Monday, April 15th. William Blair restated a market perform rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of Hold and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $44.65 on Friday. The company has a fifty day moving average price of $50.93 and a two-hundred day moving average price of $51.02. Bristol-Myers Squibb has a one year low of $44.34 and a one year high of $69.10. The stock has a market cap of $90.51 billion, a P/E ratio of -14.40, a P/E/G ratio of 15.47 and a beta of 0.39. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.38%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

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