Citigroup Increases Bristol-Myers Squibb (NYSE:BMY) Price Target to $60.00

Bristol-Myers Squibb (NYSE:BMY) had its price objective boosted by Citigroup from $55.00 to $60.00 in a research report report published on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also commented on the company. BMO Capital Markets upped their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $73.00 in a report on Tuesday. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Finally, TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $56.22 on Tuesday. The stock’s 50-day moving average is $52.58 and its 200 day moving average is $47.15. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market cap of $114.02 billion, a P/E ratio of -15.81, a PEG ratio of 15.83 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company 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. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.27%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several large investors have recently made changes to their positions in BMY. 3Chopt Investment Partners LLC lifted its position in shares of Bristol-Myers Squibb by 10.9% in the 3rd quarter. 3Chopt Investment Partners LLC now owns 50,279 shares of the biopharmaceutical company’s stock worth $2,601,000 after acquiring an additional 4,940 shares during the period. Frisch Financial Group Inc. bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth $213,000. Prestige Wealth Management Group LLC increased its holdings in shares of Bristol-Myers Squibb by 25.0% in the third quarter. Prestige Wealth Management Group LLC now owns 28,375 shares of the biopharmaceutical company’s stock valued at $1,468,000 after purchasing an additional 5,670 shares in the last quarter. Abel Hall LLC boosted its holdings in Bristol-Myers Squibb by 42.0% in the third quarter. Abel Hall LLC now owns 17,402 shares of the biopharmaceutical company’s stock valued at $900,000 after acquiring an additional 5,143 shares during the last quarter. Finally, Continuum Advisory LLC grew its position in shares of Bristol-Myers Squibb by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 1,506 shares of the biopharmaceutical company’s stock worth $78,000 after buying an additional 423 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Company Profile

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.