Bristol-Myers Squibb (NYSE:BMY) PT Raised to $52.00

Bristol-Myers Squibb (NYSE:BMY) had its price objective lifted by research analysts at Wells Fargo & Company from $51.00 to $52.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 6.27% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.18.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $48.93 on Thursday. The business has a fifty day moving average of $51.23 and a 200-day moving average of $51.51. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $70.93. The firm has a market cap of $99.17 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the company posted $1.82 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently modified their holdings of BMY. Norges Bank bought a new position in Bristol-Myers Squibb in the fourth quarter valued at approximately $1,560,524,000. Northern Trust Corp raised its holdings in shares of Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after acquiring an additional 1,394,158 shares during the period. Primecap Management Co. CA lifted its position in Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after acquiring an additional 2,998,228 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Bristol-Myers Squibb by 114,228.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after purchasing an additional 21,451,006 shares during the period. Finally, Legal & General Group Plc increased its holdings in Bristol-Myers Squibb by 16.6% during the 4th quarter. Legal & General Group Plc now owns 19,811,009 shares of the biopharmaceutical company’s stock worth $1,016,502,000 after purchasing an additional 2,814,746 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.