Brokerages Set Bristol-Myers Squibb Co (NYSE:BMY) Target Price at $66.33

Bristol-Myers Squibb Co (NYSE:BMY) has earned an average recommendation of “Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $68.00.

BMY has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and set a $64.00 price target on the stock in a research report on Thursday, April 2nd. Cantor Fitzgerald raised their price target on shares of Bristol-Myers Squibb from $68.00 to $88.00 in a research report on Tuesday. Zacks Investment Research downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $66.00 price target on the stock. in a research report on Thursday, April 16th. ValuEngine downgraded shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Monday, June 1st. Finally, Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Monday, March 23rd.

In other Bristol-Myers Squibb news, SVP Adam Dubow sold 3,200 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $61.01, for a total value of $195,232.00. Following the completion of the transaction, the senior vice president now directly owns 16,086 shares in the company, valued at $981,406.86. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Louis S. Schmukler sold 25,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the completion of the sale, the executive vice president now owns 26,777 shares of the company’s stock, valued at $1,678,382.36. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new position in Bristol-Myers Squibb during the first quarter worth $28,000. Optimal Asset Management Inc. boosted its stake in Bristol-Myers Squibb by 257.8% during the first quarter. Optimal Asset Management Inc. now owns 16,566 shares of the biopharmaceutical company’s stock worth $923,000 after buying an additional 11,936 shares in the last quarter. Pantheon Investment Group LLC boosted its stake in Bristol-Myers Squibb by 40.3% during the first quarter. Pantheon Investment Group LLC now owns 28,121 shares of the biopharmaceutical company’s stock worth $1,574,000 after buying an additional 8,083 shares in the last quarter. UMB Bank N A MO boosted its stake in Bristol-Myers Squibb by 1.1% during the first quarter. UMB Bank N A MO now owns 159,362 shares of the biopharmaceutical company’s stock worth $8,883,000 after buying an additional 1,706 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Bristol-Myers Squibb by 83.6% during the first quarter. 1832 Asset Management L.P. now owns 274,353 shares of the biopharmaceutical company’s stock worth $14,856,000 after buying an additional 124,935 shares in the last quarter. 74.17% of the stock is currently owned by institutional investors.

NYSE BMY traded up $0.44 during trading hours on Monday, reaching $61.33. 11,861,657 shares of the company traded hands, compared to its average volume of 16,128,179. Bristol-Myers Squibb has a 12 month low of $42.48 and a 12 month high of $68.34. The company has a current ratio of 1.66, a quick ratio of 1.51 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $137.78 billion, a PE ratio of 75.72, a PEG ratio of 1.18 and a beta of 0.72. The company has a 50 day moving average of $61.29 and a two-hundred day moving average of $60.89.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.23. Bristol-Myers Squibb had a net margin of 3.08% and a return on equity of 30.06%. The firm had revenue of $10.78 billion for the quarter, compared to the consensus estimate of $10.04 billion. During the same period in the prior year, the firm posted $1.10 EPS. The firm’s revenue was up 82.1% compared to the same quarter last year. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.15 earnings per share for the current year.

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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