Bristol-Myers Squibb (NYSE:BMY) Given Average Recommendation of “Buy” by Brokerages

Bristol-Myers Squibb (NYSE:BMY) has been assigned a consensus recommendation of “Buy” from the seventeen research firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $72.42.

Several analysts have recently weighed in on BMY shares. Barclays reduced their price objective on shares of Bristol-Myers Squibb from $71.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, October 8th. Berenberg Bank cut their target price on shares of Bristol-Myers Squibb from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Monday. Bank of America reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a report on Wednesday, July 28th. Morgan Stanley decreased their target price on shares of Bristol-Myers Squibb from $71.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Truist began coverage on shares of Bristol-Myers Squibb in a research report on Wednesday, July 28th. They issued a “buy” rating and a $74.00 price objective on the stock.

NYSE BMY opened at $57.39 on Thursday. Bristol-Myers Squibb has a one year low of $56.66 and a one year high of $69.75. The firm has a 50 day simple moving average of $63.68 and a 200-day simple moving average of $65.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.42 and a current ratio of 1.54. The firm has a market cap of $127.53 billion, a price-to-earnings ratio of -25.14, a PEG ratio of 1.20 and a beta of 0.61.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Tuesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. Bristol-Myers Squibb had a negative net margin of 11.44% and a positive return on equity of 37.76%. The company had revenue of $11.70 billion during the quarter, compared to the consensus estimate of $11.24 billion. Equities analysts predict that Bristol-Myers Squibb will post 7.46 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Friday, October 1st will be given a $0.49 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.42%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 30.43%.

In other Bristol-Myers Squibb news, CFO David V. Elkins sold 99,691 shares of Bristol-Myers Squibb stock in a transaction that occurred on Thursday, August 12th. The stock was sold at an average price of $66.95, for a total value of $6,674,312.45. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Giovanni Caforio sold 25,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, September 20th. The stock was sold at an average price of $60.64, for a total value of $1,516,000.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BMY. Capital Asset Advisory Services LLC boosted its stake in Bristol-Myers Squibb by 7.5% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 19,939 shares of the biopharmaceutical company’s stock valued at $1,190,000 after buying an additional 1,387 shares in the last quarter. WestHill Financial Advisors Inc. acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $281,000. Corrado Advisors LLC boosted its stake in Bristol-Myers Squibb by 0.9% in the 3rd quarter. Corrado Advisors LLC now owns 33,609 shares of the biopharmaceutical company’s stock valued at $1,989,000 after buying an additional 298 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its stake in Bristol-Myers Squibb by 1.5% in the 3rd quarter. Alpha Omega Wealth Management LLC now owns 44,657 shares of the biopharmaceutical company’s stock valued at $2,642,000 after buying an additional 645 shares in the last quarter. Finally, Stolper Co boosted its stake in Bristol-Myers Squibb by 2.0% in the 3rd quarter. Stolper Co now owns 26,652 shares of the biopharmaceutical company’s stock valued at $1,577,000 after buying an additional 513 shares in the last quarter. 72.10% of the stock is currently owned by institutional investors.

About Bristol-Myers Squibb

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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