Wells Fargo & Company Issues Positive Forecast for Bristol Myers Squibb (NYSE:BMY) Stock Price

Bristol Myers Squibb (NYSE:BMY) had its price target upped by Wells Fargo & Company from $53.00 to $55.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $57.00 price target (up previously from $51.00) on shares of Bristol Myers Squibb in a research report on Tuesday, December 2nd. Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, November 24th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 17th. Scotiabank reissued a “sector perform” rating and set a $53.00 price target (up from $45.00) on shares of Bristol Myers Squibb in a research report on Thursday, December 4th. Finally, HSBC restated a “hold” rating and issued a $53.00 price objective on shares of Bristol Myers Squibb in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.83.

Bristol Myers Squibb Stock Up 1.3%

Shares of Bristol Myers Squibb stock opened at $51.30 on Wednesday. Bristol Myers Squibb has a 12 month low of $42.52 and a 12 month high of $63.33. The business has a fifty day simple moving average of $46.55 and a 200 day simple moving average of $46.87. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39. The stock has a market cap of $104.43 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 7.75 and a beta of 0.29.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Research analysts predict that Bristol Myers Squibb will post 6.74 EPS for the current year.

Bristol Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, January 2nd. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a yield of 4.9%. Bristol Myers Squibb’s dividend payout ratio is 83.78%.

Institutional Trading of Bristol Myers Squibb

Several institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in Bristol Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 4,935 shares during the last quarter. HighTower Advisors LLC increased its position in Bristol Myers Squibb by 0.5% during the 1st quarter. HighTower Advisors LLC now owns 930,470 shares of the biopharmaceutical company’s stock worth $56,749,000 after buying an additional 5,004 shares during the period. Stone House Investment Management LLC acquired a new stake in shares of Bristol Myers Squibb during the first quarter worth $64,000. LGT Group Foundation lifted its holdings in shares of Bristol Myers Squibb by 2.4% during the first quarter. LGT Group Foundation now owns 30,592 shares of the biopharmaceutical company’s stock worth $1,866,000 after buying an additional 718 shares in the last quarter. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $36,000. 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.