Bristol-Myers Squibb (NYSE:BMY) Given New $59.00 Price Target at TD Cowen

Bristol-Myers Squibb (NYSE:BMY) had its price target increased by TD Cowen from $53.00 to $59.00 in a report published on Monday, Benzinga reports. TD Cowen currently has a hold rating on the biopharmaceutical company’s stock.

BMY has been the topic of a number of other research reports. Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a hold rating in a research note on Wednesday, August 28th. Cantor Fitzgerald restated a neutral rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. BMO Capital Markets restated a market perform rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Barclays boosted their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an underweight rating in a research note on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating on the stock in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $53.00.

Bristol-Myers Squibb Stock Down 0.7 %

Shares of NYSE BMY opened at $52.41 on Monday. The firm has a fifty day simple moving average of $49.60 and a two-hundred day simple moving average of $46.39. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.65. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $106.24 billion, a PE ratio of -16.91, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46.

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

Bristol-Myers Squibb Announces Dividend

The company also recently declared 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. This represents a $2.40 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BMY. Sound Income Strategies LLC lifted its stake in Bristol-Myers Squibb by 46.9% in the 3rd quarter. Sound Income Strategies LLC now owns 2,770 shares of the biopharmaceutical company’s stock worth $143,000 after purchasing an additional 885 shares in the last quarter. CVA Family Office LLC increased its position in Bristol-Myers Squibb by 9.1% during the third quarter. CVA Family Office LLC now owns 8,724 shares of the biopharmaceutical company’s stock valued at $451,000 after acquiring an additional 731 shares during the last quarter. Koshinski Asset Management Inc. raised its position in Bristol-Myers Squibb by 3.5% in the 3rd quarter. Koshinski Asset Management Inc. now owns 26,568 shares of the biopharmaceutical company’s stock worth $1,375,000 after purchasing an additional 904 shares during the period. CHICAGO TRUST Co NA raised its holdings in shares of Bristol-Myers Squibb by 19.2% in the third quarter. CHICAGO TRUST Co NA now owns 18,934 shares of the biopharmaceutical company’s stock worth $980,000 after buying an additional 3,044 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in shares of Bristol-Myers Squibb by 18.1% during the third quarter. Exchange Traded Concepts LLC now owns 26,468 shares of the biopharmaceutical company’s stock worth $1,369,000 after purchasing an additional 4,064 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

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.