Bristol-Myers Squibb (NYSE:BMY) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of Bristol-Myers Squibb (NYSE:BMY) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $65.00 target price on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued reports about the stock. Citigroup raised their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Cantor Fitzgerald raised their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. UBS Group dropped their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. 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 report on Friday, February 7th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $58.00.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $48.66 on Tuesday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a market capitalization of $99.01 billion, a PE ratio of -11.01, a P/E/G ratio of 2.07 and a beta of 0.41. The stock has a 50 day simple moving average of $56.50 and a 200 day simple moving average of $56.50. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.25. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. During the same quarter in the prior year, the firm earned ($4.40) earnings per share. Sell-side analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.10%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently made changes to their positions in BMY. Morse Asset Management Inc increased its position in shares of Bristol-Myers Squibb by 25.0% in the third quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company’s stock worth $517,000 after purchasing an additional 2,000 shares during the period. Tudor Financial Inc. acquired a new stake in Bristol-Myers Squibb during the third quarter worth about $250,000. Pine Valley Investments Ltd Liability Co increased its holdings in Bristol-Myers Squibb by 1.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 44,897 shares of the biopharmaceutical company’s stock valued at $2,323,000 after buying an additional 575 shares during the period. World Investment Advisors LLC raised its position in shares of Bristol-Myers Squibb by 18.7% in the 3rd quarter. World Investment Advisors LLC now owns 44,106 shares of the biopharmaceutical company’s stock valued at $2,282,000 after buying an additional 6,954 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $1,724,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.