Bristol-Myers Squibb Co (BMY) Receives $60.46 Average PT from Brokerages

Bristol-Myers Squibb Co (NYSE:BMY) has received a consensus rating of “Hold” from the twenty-two research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $60.46.

Several research analysts recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Bristol-Myers Squibb in a research report on Monday, October 22nd. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $62.00 to $57.00 in a research note on Monday, October 22nd. Credit Suisse Group reiterated a “hold” rating and set a $59.00 price target on shares of Bristol-Myers Squibb in a research note on Thursday, December 13th. BMO Capital Markets boosted their price target on Bristol-Myers Squibb from $55.00 to $58.00 and gave the company a “market perform” rating in a research note on Friday, November 16th. Finally, ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Friday, December 7th.

NYSE:BMY traded up $0.84 during mid-day trading on Tuesday, hitting $51.67. 15,449,076 shares of the company’s stock traded hands, compared to its average volume of 19,386,057. Bristol-Myers Squibb has a twelve month low of $44.30 and a twelve month high of $70.05. The firm has a market capitalization of $84.34 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.62 and a beta of 0.83. 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 (NYSE:BMY) last announced its earnings results on Thursday, January 24th. The biopharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.09. Bristol-Myers Squibb had a return on equity of 50.03% and a net margin of 21.95%. The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same period in the prior year, the company posted $0.68 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts expect that Bristol-Myers Squibb will post 4.16 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Friday, January 4th were paid a $0.41 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, January 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.17%. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.

Institutional investors and hedge funds have recently modified their holdings of the company. SFE Investment Counsel boosted its stake in shares of Bristol-Myers Squibb by 8.6% in the third quarter. SFE Investment Counsel now owns 16,375 shares of the biopharmaceutical company’s stock worth $1,017,000 after buying an additional 1,290 shares during the last quarter. Benedict Financial Advisors Inc. boosted its position in Bristol-Myers Squibb by 4.0% during the third quarter. Benedict Financial Advisors Inc. now owns 25,248 shares of the biopharmaceutical company’s stock worth $1,567,000 after purchasing an additional 974 shares in the last quarter. Yorktown Management & Research Co Inc boosted its position in Bristol-Myers Squibb by 400.0% during the third quarter. Yorktown Management & Research Co Inc now owns 20,000 shares of the biopharmaceutical company’s stock worth $1,242,000 after purchasing an additional 16,000 shares in the last quarter. Hollencrest Capital Management boosted its position in Bristol-Myers Squibb by 176.1% during the fourth quarter. Hollencrest Capital Management now owns 9,604 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 6,126 shares in the last quarter. Finally, Highwater Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $170,000. Hedge funds and other institutional investors own 73.19% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic areas, such as oncology; cardiovascular; immunoscience; and human immunodeficiency virus (HIV) infection. Its products include Opdivo, a biological product for anti-cancer indications; Eliquis, an inhibitor targeted at stroke prevention in atrial fibrillation and prevention and treatment of venous thromboembolic disorders; Orencia, a biological product that targets adult patients with active rheumatoid arthritis and prostate-specific antigen; and Sprycel, a tyrosine kinase inhibitor for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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

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