Bristol-Myers Squibb Co. (NYSE:BMY) had its price objective trimmed by Citigroup Inc. from $75.00 to $70.00 in a report released on Tuesday. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Other research analysts have also recently issued reports about the stock. Vetr raised shares of Bristol-Myers Squibb from a sell rating to a buy rating and set a $78.79 price objective on the stock in a research note on Tuesday, June 7th. TheStreet raised shares of Bristol-Myers Squibb from a hold rating to a buy rating in a research note on Tuesday, May 31st. Goldman Sachs Group Inc. reissued a buy rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a hold rating to a buy rating and set a $85.00 price objective on the stock in a research note on Wednesday, July 13th. Finally, Berenberg Bank restated a buy rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $69.64.
Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 56.48 on Tuesday. The company has a 50 day moving average of $57.97 and a 200-day moving average of $67.43. Bristol-Myers Squibb has a 52-week low of $55.02 and a 52-week high of $77.12. The company has a market cap of $94.37 billion, a PE ratio of 33.03 and a beta of 0.61.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Analysts forecast that Bristol-Myers Squibb will post $2.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is presently 87.36%.
In other news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the sale, the director now directly owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock valued at $8,057,758,000 after buying an additional 3,595,648 shares during the last quarter. Bank of Montreal Can purchased a new position in Bristol-Myers Squibb during the second quarter valued at $154,732,000. Sustainable Growth Advisers LP boosted its position in Bristol-Myers Squibb by 1,957.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,402,482 shares of the biopharmaceutical company’s stock valued at $103,153,000 after buying an additional 1,334,303 shares during the period. Jarislowsky Fraser Ltd boosted its position in Bristol-Myers Squibb by 240.6% in the second quarter. Jarislowsky Fraser Ltd now owns 1,885,751 shares of the biopharmaceutical company’s stock valued at $100,571,000 after buying an additional 1,332,163 shares during the period. Finally, WestEnd Advisors LLC purchased a new position in Bristol-Myers Squibb during the second quarter valued at $94,956,000. 72.91% of the stock is owned by institutional investors.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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