BMO Capital Markets Increases Bristol-Myers Squibb (NYSE:BMY) Price Target to $57.00

Bristol-Myers Squibb (NYSE:BMY) had its price objective increased by stock analysts at BMO Capital Markets from $53.00 to $57.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ target price indicates a potential upside of 4.93% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Barclays increased their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Citigroup cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $75.00 to $55.00 in a report on Friday, October 25th. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.00.

Bristol-Myers Squibb Stock Down 2.6 %

Shares of BMY stock opened at $54.32 on Friday. The firm has a fifty day moving average of $51.26 and a 200-day moving average of $46.57. 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 has a 12-month low of $39.35 and a 12-month high of $56.20. The company has a market capitalization of $110.13 billion, a price-to-earnings ratio of -16.66, a P/E/G ratio of 14.62 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the prior year, the company posted $2.00 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Bristol-Myers Squibb will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently modified their holdings of the stock. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb during the third quarter worth about $25,000. Hollencrest Capital Management increased its position in Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb during the first quarter worth about $27,000. Valued Wealth Advisors LLC increased its position in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in Bristol-Myers Squibb during the third quarter worth about $34,000. 76.41% of the stock is owned by institutional investors.

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.