Analysts Set Bristol-Myers Squibb (NYSE:BMY) PT at $57.86

Shares of Bristol-Myers Squibb (NYSE:BMY) have received an average recommendation of “Hold” from the nineteen brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $57.86.

Several research analysts have commented on BMY shares. Citigroup lifted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Bank of America reiterated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Truist Financial raised their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $60.10 on Monday. The business has a 50-day simple moving average of $58.55 and a two-hundred day simple moving average of $56.25. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The stock has a market cap of $121.96 billion, a PE ratio of -13.60, a PEG ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Swedbank AB raised its holdings in shares of Bristol-Myers Squibb by 0.9% in the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock valued at $162,440,000 after purchasing an additional 28,427 shares during the last quarter. United Bank increased its stake in Bristol-Myers Squibb by 2.7% in the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after buying an additional 456 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Bristol-Myers Squibb by 4.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 116,801 shares of the biopharmaceutical company’s stock valued at $6,044,000 after buying an additional 5,407 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $3,579,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $319,000. 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.