Analysts Set Bristol-Myers Squibb (NYSE:BMY) Price Target at $71.33

Shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) have received a consensus rating of “Buy” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $71.33.

A number of equities research analysts recently commented on BMY shares. BMO Capital Markets upped their price target on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a report on Monday, May 2nd. StockNews.com started coverage on shares of Bristol-Myers Squibb in a report on Thursday, March 31st. They set a “strong-buy” rating for the company. Guggenheim upped their price target on shares of Bristol-Myers Squibb from $72.00 to $80.00 in a report on Monday, May 2nd. Barclays upped their price target on shares of Bristol-Myers Squibb from $66.00 to $68.00 in a report on Monday, May 2nd. Finally, Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, March 2nd.

In other news, CEO Giovanni Caforio sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $67.00, for a total value of $2,010,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Karen Murphy Santiago sold 6,577 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold a total of 165,668 shares of company stock valued at $11,459,888 over the last 90 days. Company insiders own 0.09% of the company’s stock.

Several large investors have recently added to or reduced their stakes in BMY. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $1,413,962,000. Two Sigma Advisers LP grew its position in Bristol-Myers Squibb by 709.5% during the 3rd quarter. Two Sigma Advisers LP now owns 6,603,299 shares of the biopharmaceutical company’s stock valued at $390,717,000 after purchasing an additional 5,787,600 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Bristol-Myers Squibb by 377.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 6,034,622 shares of the biopharmaceutical company’s stock valued at $357,069,000 after purchasing an additional 4,769,885 shares during the last quarter. California Public Employees Retirement System grew its position in Bristol-Myers Squibb by 59.0% during the 1st quarter. California Public Employees Retirement System now owns 11,771,544 shares of the biopharmaceutical company’s stock valued at $859,676,000 after purchasing an additional 4,367,193 shares during the last quarter. Finally, Primecap Management Co. CA grew its position in Bristol-Myers Squibb by 16.9% during the 4th quarter. Primecap Management Co. CA now owns 22,114,455 shares of the biopharmaceutical company’s stock valued at $1,378,836,000 after purchasing an additional 3,195,680 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BMY opened at $76.15 on Monday. The firm has a market cap of $162.13 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 1.62 and a beta of 0.49. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.43 and a current ratio of 1.32. Bristol-Myers Squibb has a fifty-two week low of $53.22 and a fifty-two week high of $78.17. The firm has a 50 day moving average price of $73.87 and a 200-day moving average price of $66.11.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The biopharmaceutical company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 13.31% and a return on equity of 48.37%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.74 EPS. As a group, equities research analysts predict that Bristol-Myers Squibb will post 7.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Friday, April 1st were issued a $0.54 dividend. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $2.16 annualized dividend and a yield of 2.84%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 76.60%.

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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