Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $65.00

Bristol-Myers Squibb (NYSE:BMY) had its price target increased by research analysts at Citigroup from $60.00 to $65.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Citigroup’s target price indicates a potential upside of 7.24% from the company’s previous close.

BMY has been the topic of a number of other reports. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Morgan Stanley boosted their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. BMO Capital Markets boosted their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.60.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $60.61 on Tuesday. The company has a market cap of $122.93 billion, a price-to-earnings ratio of -16.88, a P/E/G ratio of 2.02 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The business’s fifty day simple moving average is $57.47 and its two-hundred day simple moving average is $52.71.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the prior year, the business earned $2.00 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently added to or reduced their stakes in BMY. Sumitomo Mitsui Trust Group Inc. grew its stake in Bristol-Myers Squibb by 0.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,681,038 shares of the biopharmaceutical company’s stock worth $264,760,000 after purchasing an additional 27,232 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $4,377,000. Leo Wealth LLC grew its holdings in Bristol-Myers Squibb by 51.5% during the 4th quarter. Leo Wealth LLC now owns 14,965 shares of the biopharmaceutical company’s stock worth $846,000 after acquiring an additional 5,085 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $2,379,000. Finally, Measured Wealth Private Client Group LLC raised its holdings in shares of Bristol-Myers Squibb by 102.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 11,164 shares of the biopharmaceutical company’s stock valued at $631,000 after purchasing an additional 5,650 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

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.