Bristol Myers Squibb (NYSE:BMY) Price Target Cut to $66.00 by Analysts at Bank of America

Bristol Myers Squibb (NYSE:BMY) had its price target reduced by Bank of America from $67.00 to $66.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 2nd. Guggenheim restated a “buy” rating and issued a $72.00 price target on shares of Bristol Myers Squibb in a research note on Wednesday, April 8th. HSBC boosted their price objective on Bristol Myers Squibb from $53.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Cantor Fitzgerald reissued a “neutral” rating and issued a $54.00 price objective on shares of Bristol Myers Squibb in a report on Monday, July 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of Bristol Myers Squibb in a research note on Thursday, May 28th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bristol Myers Squibb presently has a consensus rating of “Hold” and an average price target of $61.25.

Bristol Myers Squibb Stock Performance

NYSE:BMY traded down $0.41 during midday trading on Friday, reaching $57.53. 11,202,444 shares of the company traded hands, compared to its average volume of 12,071,738. The firm has a market capitalization of $117.49 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.17 and a beta of 0.23. The company has a fifty day moving average price of $56.83 and a 200 day moving average price of $57.62. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.42 and a quick ratio of 1.28. Bristol Myers Squibb has a twelve month low of $42.52 and a twelve month high of $62.89.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.16. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.The firm had revenue of $11.49 billion for the quarter, compared to analyst estimates of $10.93 billion. During the same period last year, the company earned $1.80 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. On average, analysts expect that Bristol Myers Squibb will post 6.32 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, July 2nd. Bristol Myers Squibb’s payout ratio is presently 70.79%.

Institutional Trading of Bristol Myers Squibb

A number of large investors have recently added to or reduced their stakes in BMY. Brighton Jones LLC lifted its holdings in shares of Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after purchasing an additional 4,935 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Bristol Myers Squibb by 59.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,477 shares of the biopharmaceutical company’s stock worth $346,000 after purchasing an additional 2,786 shares in the last quarter. United Bank raised its holdings in Bristol Myers Squibb by 15.0% during the 2nd quarter. United Bank now owns 25,148 shares of the biopharmaceutical company’s stock worth $1,164,000 after buying an additional 3,277 shares during the period. Marshall Wace LLP purchased a new stake in Bristol Myers Squibb during the second quarter valued at about $221,000. Finally, Nebula Research & Development LLC purchased a new stake in Bristol Myers Squibb during the second quarter valued at about $405,000. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb News Summary

Here are the key news stories impacting Bristol Myers Squibb this week:

• Positive Sentiment: Bank of America lowered its price target slightly to $66 from $67 but kept a Buy rating, signaling continued upside potential for Bristol Myers Squibb. Benzinga
• Positive Sentiment: Bristol Myers Squibb’s addition to defensive and value-defensive Russell indices could broaden demand from index-tracking and conservative institutional investors. Yahoo Finance
• Positive Sentiment: The company’s QUILS lung cancer detection program is expanding into new states, reinforcing its reputation in oncology and public-health initiatives. Yahoo Finance

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late?stage pipeline reflect a strong emphasis on cancer and immune?mediated conditions.