Bristol-Myers Squibb (NYSE:BMY) Given New $52.00 Price Target at Wells Fargo & Company

Bristol-Myers Squibb (NYSE:BMY) had its price objective boosted by equities researchers at Wells Fargo & Company from $51.00 to $52.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.97% from the company’s previous close.

Several other research analysts have also recently commented on BMY. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Trading Up 0.7 %

NYSE:BMY traded up $0.32 during trading hours on Thursday, hitting $48.16. The stock had a trading volume of 2,451,994 shares, compared to its average volume of 15,664,869. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The business’s 50 day moving average is $51.26 and its 200-day moving average is $51.59. The company has a market cap of $97.61 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 1.49 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. Bristol-Myers Squibb’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 EPS. Sell-side analysts anticipate that Bristol-Myers Squibb will post 6.47 EPS for the current fiscal year.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $1,560,524,000. Northern Trust Corp lifted its holdings in shares of Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after acquiring an additional 1,394,158 shares during the period. Primecap Management Co. CA increased its stake in Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after acquiring an additional 2,998,228 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in Bristol-Myers Squibb by 114,228.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after purchasing an additional 21,451,006 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Bristol-Myers Squibb by 16.6% in the 4th quarter. Legal & General Group Plc now owns 19,811,009 shares of the biopharmaceutical company’s stock valued at $1,016,502,000 after purchasing an additional 2,814,746 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

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.