Daiwa Capital Markets lowered shares of Bristol Myers Squibb (NYSE:BMY – Free Report) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. They currently have $42.00 price target on the biopharmaceutical company’s stock.
A number of other research analysts also recently commented on BMY. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. UBS Group cut their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.38.
Get Our Latest Research Report on Bristol Myers Squibb
Bristol Myers Squibb Stock Performance
Bristol Myers Squibb (NYSE:BMY – Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter in the previous year, the business posted $2.07 earnings per share. Bristol Myers Squibb’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts anticipate that Bristol Myers Squibb will post 6.74 earnings per share for the current fiscal year.
Bristol Myers Squibb Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.
Hedge Funds Weigh In On Bristol Myers Squibb
Hedge funds and other institutional investors have recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb during the fourth quarter worth $25,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Bristol Myers Squibb during the 2nd quarter worth $25,000. Park Square Financial Group LLC bought a new stake in Bristol Myers Squibb during the fourth quarter valued at about $26,000. Transce3nd LLC purchased a new position in Bristol Myers Squibb in the fourth quarter valued at about $28,000. Finally, Global Wealth Strategies & Associates raised its holdings in Bristol Myers Squibb by 137.5% in the first 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. Institutional investors own 76.41% of the company’s stock.
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.
Further Reading
- Five stocks we like better than Bristol Myers Squibb
- How to Profit From Growth Investing
- Why Monolithic Power’s Earnings and Guidance Ignited a Rally
- Business Services Stocks Investing
- AppLovin’s Q2 Miss Spooks Market, But Wall Street Doubles Down
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- Microsoft Stock Gains as Analysts Boost Price Targets
Receive News & Ratings for Bristol Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.