Bristol-Myers Squibb (NYSE:BMY) Receives Consensus Rating of “Buy” from Analysts

Bristol-Myers Squibb (NYSE:BMYGet Rating) has been given an average recommendation of “Buy” by the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $67.75.

Several brokerages recently commented on BMY. initiated coverage on Bristol-Myers Squibb in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Morgan Stanley reduced their target price on shares of Bristol-Myers Squibb from $66.00 to $64.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 6th. Wells Fargo & Company increased their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 2nd. Finally, BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $74.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, March 30th.

NYSE:BMY opened at $75.27 on Monday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.43 and a current ratio of 1.52. The company has a 50-day moving average of $72.64 and a 200-day moving average of $65.20. Bristol-Myers Squibb has a 52 week low of $53.22 and a 52 week high of $78.17. The company has a market capitalization of $164.07 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.56 and a beta of 0.55.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last posted its quarterly earnings results on Friday, April 29th. The biopharmaceutical company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.05. The firm had revenue of $11.65 billion during the quarter, compared to analyst estimates of $11.34 billion. Bristol-Myers Squibb had a net margin of 15.08% and a return on equity of 45.60%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb will post 7.66 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 2nd. Stockholders of record on Friday, April 1st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, March 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.87%. Bristol-Myers Squibb’s payout ratio is 76.60%.

In related news, EVP Rupert Vessey sold 74,559 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $69.25, for a total value of $5,163,210.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christopher S. Boerner sold 29,532 shares of the company’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $69.20, for a total transaction of $2,043,614.40. The disclosure for this sale can be found here. In the last three months, insiders sold 165,668 shares of company stock valued at $11,459,888. 0.09% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. boosted its stake in Bristol-Myers Squibb by 239.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 239 shares during the last quarter. Nauset Wealth Management. LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth about $27,000. Conrad Siegel Investment Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $28,000. New England Professional Planning Group Inc. bought a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $220,000. Finally, Horan Securities Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $29,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

About Bristol-Myers Squibb (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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