Bristol-Myers Squibb’s (BMY) “Market Perform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reiterated their market perform rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note published on Monday, Benzinga reports. They currently have a $48.00 price target on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an underweight rating in a research report on Thursday, August 22nd. TD Cowen increased their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a hold rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating on the stock in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued a neutral rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Finally, Jefferies Financial Group lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a hold rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of Hold and a consensus price target of $55.00.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $49.95 on Monday. The firm has a market cap of $101.25 billion, a P/E ratio of -16.11, a P/E/G ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $59.25. The business’s 50-day moving average price is $48.07 and its 200 day moving average price is $46.36. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period last year, the business posted $1.75 EPS. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.80%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently modified their holdings of the business. ESL Trust Services LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. LGT Financial Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the last quarter. Fairman Group LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $42,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter valued at $47,000. Finally, Accent Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth about $46,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

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.