The Goldman Sachs Group Reiterates “Neutral” Rating for Bristol-Myers Squibb (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY)‘s stock had its “neutral” rating reiterated by investment analysts at The Goldman Sachs Group in a note issued to investors on Tuesday, MarketBeat reports. They presently have a $55.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $67.00. The Goldman Sachs Group’s target price points to a potential upside of 2.23% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Citigroup upped their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Cantor Fitzgerald lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $57.67.

Bristol-Myers Squibb Trading Up 1.4 %

BMY stock opened at $53.80 on Tuesday. The firm has a fifty day moving average price of $58.07 and a 200 day moving average price of $56.73. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The firm has a market cap of $109.47 billion, a PE ratio of -12.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinney & Scofield Inc. purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $26,000. Global Wealth Strategies & Associates increased its position in Bristol-Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $28,000. Finally, Fairway Wealth LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.