Bristol-Myers Squibb Co. (NYSE:BMY)‘s stock had its “buy” rating reiterated by research analysts at Goldman Sachs Group Inc. in a report released on Tuesday. They currently have a $75.00 price target on the biopharmaceutical company’s stock. Goldman Sachs Group Inc.’s price objective would indicate a potential upside of 34.55% from the company’s current price.
A number of other research analysts have also recently issued reports on the stock. Credit Suisse Group AG cut shares of Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $86.00 to $63.00 in a research note on Sunday, August 7th. Morgan Stanley reissued a “hold” rating on shares of Bristol-Myers Squibb in a research note on Thursday, August 25th. Jefferies Group reissued a “hold” rating and issued a $57.00 price objective (down from $69.00) on shares of Bristol-Myers Squibb in a research note on Monday, September 12th. Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.23 target price on the stock in a research report on Tuesday, August 9th. Finally, Citigroup Inc. cut their target price on shares of Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $69.91.
Bristol-Myers Squibb (NYSE:BMY) traded up 0.47% during trading on Tuesday, hitting $55.74. The stock had a trading volume of 8,619,892 shares. Bristol-Myers Squibb has a 12-month low of $55.02 and a 12-month high of $77.12. The stock has a 50 day moving average price of $57.62 and a 200 day moving average price of $67.32. The company has a market capitalization of $93.13 billion, a price-to-earnings ratio of 32.60 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. Equities research analysts forecast that Bristol-Myers Squibb will post $2.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 87.36%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of Bristol-Myers Squibb stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $59.17, for a total value of $1,372,744.00. Following the completion of the sale, the director now directly owns 364,999 shares of the company’s stock, valued at $21,596,990.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. IBM Retirement Fund increased its stake in Bristol-Myers Squibb by 1.1% in the second quarter. IBM Retirement Fund now owns 219,448 shares of the biopharmaceutical company’s stock valued at $16,627,000 after buying an additional 2,421 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Bristol-Myers Squibb by 19.4% in the second quarter. Handelsbanken Fonder AB now owns 141,365 shares of the biopharmaceutical company’s stock valued at $10,397,000 after buying an additional 23,000 shares during the last quarter. Howard Capital Management increased its stake in Bristol-Myers Squibb by 0.7% in the second quarter. Howard Capital Management now owns 153,499 shares of the biopharmaceutical company’s stock valued at $11,290,000 after buying an additional 1,068 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in Bristol-Myers Squibb by 1.1% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,460,780 shares of the biopharmaceutical company’s stock valued at $107,440,000 after buying an additional 15,313 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Bristol-Myers Squibb by 1.9% in the first quarter. Geode Capital Management LLC now owns 13,534,575 shares of the biopharmaceutical company’s stock valued at $862,835,000 after buying an additional 254,653 shares during the last quarter. 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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