Bristol-Myers Squibb (NYSE:BMY) Given New $48.00 Price Target at BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY) had its price objective lowered by analysts at BMO Capital Markets from $55.00 to $48.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 7.02% from the company’s current price.

Several other research analysts have also recently commented on BMY. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Barclays reduced their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday. Wells Fargo & Company increased their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Finally, Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Up 0.3 %

Bristol-Myers Squibb stock opened at $44.85 on Friday. The stock has a market capitalization of $90.90 billion, a PE ratio of -14.47, a price-to-earnings-growth ratio of 16.25 and a beta of 0.39. Bristol-Myers Squibb has a twelve month low of $44.34 and a twelve month high of $69.10. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $51.03 and a 200-day moving average of $51.14.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.05 earnings per share. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently modified their holdings of the stock. OFI Invest Asset Management bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at about $25,000. Milestone Investment Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at about $27,000. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb during the fourth quarter worth about $27,000. Blue Bell Private Wealth Management LLC increased its position in Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 200 shares during the period. Finally, Accordant Advisory Group Inc bought a new position in Bristol-Myers Squibb during the first quarter worth about $31,000. 76.41% of the stock is owned by institutional investors.

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.