Research Analysts’ Recent Ratings Changes for Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb (NYSE: BMY) recently received a number of ratings updates from brokerages and research firms:

• 4/26/2024 – Bristol-Myers Squibb had its price target lowered by analysts at BMO Capital Markets from $55.00 to $48.00. They now have a “market perform” rating on the stock.
• 4/26/2024 – Bristol-Myers Squibb had its price target lowered by analysts at Barclays PLC from $51.00 to $43.00. They now have an “equal weight” rating on the stock.
• 4/18/2024 – Bristol-Myers Squibb had its price target raised by analysts at Wells Fargo & Company from $51.00 to $52.00. They now have an “equal weight” rating on the stock.
• 4/15/2024 – Bristol-Myers Squibb was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 4/1/2024 – Bristol-Myers Squibb had its “market perform” rating reaffirmed by analysts at William Blair.
• 3/11/2024 – Bristol-Myers Squibb was downgraded by analysts at Societe Generale from a “buy” rating to a “hold” rating.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $44.20 on Thursday. Bristol-Myers Squibb has a 12-month low of $43.73 and a 12-month high of $69.10. The stock has a market cap of $89.60 billion, a P/E ratio of -14.26, a PEG ratio of 15.39 and a beta of 0.39. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The company has a 50-day moving average of $50.67 and a two-hundred day moving average of $50.89.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter last year, the business posted $2.05 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a $0.60 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.43%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $1,560,524,000. Van ECK Associates Corp grew its stake in shares of Bristol-Myers Squibb by 97.2% during the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after buying an additional 3,918,234 shares during the period. Primecap Management Co. CA increased its holdings in shares of Bristol-Myers Squibb by 14.6% during 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. raised its position in shares of Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares during the period. Finally, Franklin Resources Inc. boosted its holdings 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 valued at $480,118,000 after acquiring an additional 2,510,134 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.