Bristol-Myers Squibb (NYSE:BMY) Price Target Lowered to $48.00 at BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY) had its target price cut by BMO Capital Markets from $55.00 to $48.00 in a report issued on Friday morning, Benzinga reports. They currently have a market perform rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the stock. Redburn Atlantic cut shares of Bristol-Myers Squibb from a buy rating to a neutral rating and lowered their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Barclays lowered their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating on the stock in a research report on Friday. Societe Generale cut Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. William Blair reissued a market perform rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Bank of America downgraded Bristol-Myers Squibb from a buy rating to a neutral rating and dropped their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $60.00.

Bristol-Myers Squibb Trading Down 0.4 %

Shares of BMY stock opened at $44.65 on Friday. The company has a market capitalization of $90.51 billion, a PE ratio of -14.40, a price-to-earnings-growth ratio of 15.47 and a beta of 0.39. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The business’s fifty day moving average is $50.93 and its 200 day moving average is $51.02. Bristol-Myers Squibb has a 52-week low of $44.34 and a 52-week high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $2.05 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.38%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $1,560,524,000. Van ECK Associates Corp lifted its holdings in Bristol-Myers Squibb by 792.6% in the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after buying an additional 3,579,324 shares during the period. Primecap Management Co. CA grew its position in shares of Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying an additional 2,998,228 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Bristol-Myers Squibb by 48.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after buying an additional 2,540,360 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Bristol-Myers Squibb by 36.7% in the fourth quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after acquiring an additional 2,510,134 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Company Profile

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.