Brokerages Set Bristol-Myers Squibb Co (BMY) PT at $62.42

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Shares of Bristol-Myers Squibb Co (NYSE:BMY) have been given an average rating of “Hold” by the twenty-two analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $62.48.

Several analysts have weighed in on BMY shares. Barclays boosted their target price on shares of Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 12th. Morgan Stanley set a $59.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Tuesday. Credit Suisse Group set a $61.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Sunday, October 14th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Friday, October 5th. Finally, ValuEngine downgraded shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Friday, October 19th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CSat Investment Advisory L.P. acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $113,000. Cypress Capital Management LLC WY lifted its stake in shares of Bristol-Myers Squibb by 154.7% in the 3rd quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 1,160 shares during the period. Landaas & Co. WI ADV acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $131,000. Selective Wealth Management acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $184,000. Finally, LFA Lugano Financial Advisors SA lifted its stake in shares of Bristol-Myers Squibb by 85.8% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock valued at $199,000 after purchasing an additional 1,481 shares during the period. Institutional investors and hedge funds own 72.54% of the company’s stock.

NYSE:BMY opened at $51.35 on Friday. The company has a market cap of $82.74 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 1.41 and a beta of 1.08. Bristol-Myers Squibb has a twelve month low of $46.94 and a twelve month high of $70.05. The company has a current ratio of 1.53, a quick ratio of 1.40 and a debt-to-equity ratio of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.18. The company had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.72 billion. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. On average, equities research analysts expect that Bristol-Myers Squibb will post 3.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Friday, October 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.12%. The ex-dividend date was Thursday, October 4th. Bristol-Myers Squibb’s payout ratio is 53.16%.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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