Analysts Set Bristol-Myers Squibb (NYSE:BMY) Target Price at $67.75

Shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) have been assigned an average recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $67.75.

A number of equities research analysts recently issued reports on BMY shares. The Goldman Sachs Group started coverage on shares of Bristol-Myers Squibb in a research note on Friday, December 17th. They issued a “buy” rating and a $72.00 price target on the stock. StockNews.com began coverage on Bristol-Myers Squibb in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 2nd. Morgan Stanley dropped their price target on Bristol-Myers Squibb from $66.00 to $64.00 and set an “underweight” rating for the company in a research report on Wednesday, April 6th. Finally, BMO Capital Markets raised their price target on Bristol-Myers Squibb from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 30th.

In other news, SVP Karen Murphy Santiago sold 6,577 shares of the stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $69.19, for a total transaction of $455,062.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Giovanni Caforio sold 25,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $71.52, for a total value of $1,788,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,668 shares of company stock worth $11,459,888. 0.09% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Sanders Morris Harris LLC raised its position in shares of Bristol-Myers Squibb by 0.3% during the 1st quarter. Sanders Morris Harris LLC now owns 40,501 shares of the biopharmaceutical company’s stock valued at $2,958,000 after buying an additional 137 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in shares of Bristol-Myers Squibb by 0.6% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 23,842 shares of the biopharmaceutical company’s stock valued at $1,487,000 after purchasing an additional 151 shares during the last quarter. Bridgewater Advisors Inc. increased its stake in Bristol-Myers Squibb by 1.1% during the 4th quarter. Bridgewater Advisors Inc. now owns 14,362 shares of the biopharmaceutical company’s stock worth $895,000 after buying an additional 156 shares during the period. Brooks Moore & Associates Inc. lifted its position in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Brooks Moore & Associates Inc. now owns 29,879 shares of the biopharmaceutical company’s stock worth $1,768,000 after purchasing an additional 168 shares during the last quarter. Finally, Coastal Bridge Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 4.1% during the third quarter. Coastal Bridge Advisors LLC now owns 4,285 shares of the biopharmaceutical company’s stock valued at $254,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 72.00% of the company’s stock.

NYSE:BMY traded up $0.07 during trading hours on Thursday, reaching $76.57. The company’s stock had a trading volume of 810,447 shares, compared to its average volume of 16,098,069. The firm has a 50-day simple moving average of $69.82 and a 200-day simple moving average of $63.44. The firm has a market capitalization of $166.90 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 1.48 and a beta of 0.55. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.43 and a current ratio of 1.52. Bristol-Myers Squibb has a 1 year low of $53.22 and a 1 year high of $78.13.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last issued its earnings results on Friday, February 4th. The biopharmaceutical company reported $1.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.83. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $12 billion. Bristol-Myers Squibb had a net margin of 15.08% and a return on equity of 45.60%. Bristol-Myers Squibb’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 earnings per share. Equities analysts anticipate that Bristol-Myers Squibb will post 7.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 2nd. Investors of record on Friday, April 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Thursday, March 31st. Bristol-Myers Squibb’s payout ratio is currently 69.23%.

Bristol-Myers Squibb Company Profile (Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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