Bristol Myers Squibb (NYSE:BMY) Stock Gets Price Target Cut from Wells Fargo & Company

Bristol Myers Squibb (NYSE:BMY) had its price target reduced by Wells Fargo & Company from $65.00 to $60.00 in a report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets restated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, July 27th. UBS Group lowered Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 5th. TD Cowen started coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They set a “buy” rating for the company. Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $76.00 price target on shares of Bristol Myers Squibb in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $64.88.

Bristol Myers Squibb Stock Up 2.1%

BMY stock opened at $60.51 on Tuesday. Bristol Myers Squibb has a 12 month low of $42.52 and a 12 month high of $68.64. The firm has a market cap of $123.60 billion, a PE ratio of 13.33, a P/E/G ratio of 0.30 and a beta of 0.19. The firm has a 50 day simple moving average of $63.65 and a 200 day simple moving average of $60.30. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.44. The firm had revenue of $12.97 billion during the quarter, compared to analysts’ expectations of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Equities research analysts forecast that Bristol Myers Squibb will post 6.65 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 2nd will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, October 2nd. Bristol Myers Squibb’s dividend payout ratio is currently 55.51%.

Insider Buying and Selling

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the transaction, the senior vice president owned 16,862 shares of the company’s stock, valued at $1,138,185. The trade was a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.05% of the company’s stock.

Institutional Trading of Bristol Myers Squibb

A number of hedge funds have recently made changes to their positions in BMY. Ellsworth Advisors LLC lifted its position in Bristol Myers Squibb by 3.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 130,334 shares of the biopharmaceutical company’s stock worth $8,133,000 after buying an additional 4,801 shares in the last quarter. Iams Wealth Management LLC purchased a new position in shares of Bristol Myers Squibb during the 3rd quarter valued at $1,558,000. Guyasuta Investment Advisors Inc. grew its holdings in shares of Bristol Myers Squibb by 3.4% during the 3rd quarter. Guyasuta Investment Advisors Inc. now owns 47,634 shares of the biopharmaceutical company’s stock valued at $2,972,000 after acquiring an additional 1,563 shares in the last quarter. Walser Wealth Management Company A Ltd Liability Co increased its stake in shares of Bristol Myers Squibb by 16.3% in the third quarter. Walser Wealth Management Company A Ltd Liability Co now owns 16,731 shares of the biopharmaceutical company’s stock worth $1,044,000 after acquiring an additional 2,350 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of Bristol Myers Squibb by 2.8% in the third quarter. V Square Quantitative Management LLC now owns 54,178 shares of the biopharmaceutical company’s stock worth $3,381,000 after acquiring an additional 1,465 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Key Bristol Myers Squibb News

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

• Positive Sentiment: Pipeline progress supports the investment case. Bristol Myers reported positive Phase 3 results for RYZ101 in advanced gastroenteropancreatic neuroendocrine tumors and ZENBEXUS (iberdomide) in relapsed or refractory multiple myeloma. The data increase confidence that newer therapies can help offset future pressure on established products. How Mixed Admilparant Results and Strong Oncology Data Will Impact Bristol Myers Squibb Investors
• Positive Sentiment: Admilparant remains commercially viable, according to UBS. Although the pulmonary-fibrosis drug produced mixed Phase 3 results, the lower dose met the primary endpoint, and UBS said the LPA1 antagonist still has a path forward. That assessment limits the downside from the trial news and preserves a potential new growth opportunity. Bristol-Myers Squibb’s Pulmonary Fibrosis Treatment Still Viable Despite Recent Mixed Phase 3 Results, UBS Says
• Positive Sentiment: Some analyst support remains constructive. Truist maintained its Buy rating on BMY, helping reinforce the view that the valuation and pipeline offer upside despite ongoing execution risks. Truist Financial Sticks to Its Buy Rating for Bristol-Myers Squibb

About Bristol Myers Squibb

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its research and commercial activities focus primarily on oncology, hematology, immunology, cardiovascular disease and neuroscience. The company serves patients and healthcare providers in the United States and international markets.

Bristol Myers Squibb’s portfolio includes medicines such as Opdivo and Yervoy for certain cancers, Eliquis for the prevention of blood clots and stroke, Revlimid and Pomalyst for blood cancers, and Abraxane for certain solid tumors.