Bristol-Myers Squibb Company (BMY) Given a $65.00 Price Target at Cowen and Company
Bristol-Myers Squibb Company (NYSE:BMY) has been given a $65.00 price objective by analysts at Cowen and Company in a report issued on Monday. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Cowen and Company’s target price points to a potential upside of 12.81% from the stock’s current price.
BMY has been the subject of several other research reports. BMO Capital Markets reissued a “market perform” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Sunday, April 23rd. Vetr lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $59.88 price objective for the company. in a research note on Monday, April 24th. Robert W. Baird assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, April 25th. They set an “outperform” rating for the company. Jefferies Group LLC reissued a “buy” rating and set a $64.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. Finally, BidaskClub raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $62.12.
Shares of Bristol-Myers Squibb (BMY) traded up 1.57% on Monday, reaching $57.62. 5,653,964 shares of the company were exchanged. The firm has a market capitalization of $94.49 billion, a PE ratio of 21.04 and a beta of 1.17. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $61.30. The stock’s 50-day moving average is $55.80 and its 200 day moving average is $54.64.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. Bristol-Myers Squibb’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, analysts forecast that Bristol-Myers Squibb will post $2.97 EPS for the current year.
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In other news, Director Theodore R. Samuels II acquired 6,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at $1,006,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in BMY. Indiana Trust & Investment Management CO boosted its stake in Bristol-Myers Squibb by 1.5% in the first quarter. Indiana Trust & Investment Management CO now owns 13,152 shares of the biopharmaceutical company’s stock worth $715,000 after buying an additional 200 shares in the last quarter. Hills Bank & Trust Co. boosted its stake in Bristol-Myers Squibb by 24.2% in the first quarter. Hills Bank & Trust Co. now owns 5,919 shares of the biopharmaceutical company’s stock worth $322,000 after buying an additional 1,155 shares in the last quarter. Boltwood Capital Management boosted its stake in Bristol-Myers Squibb by 13.7% in the first quarter. Boltwood Capital Management now owns 17,905 shares of the biopharmaceutical company’s stock worth $973,000 after buying an additional 2,160 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in Bristol-Myers Squibb by 5.8% in the first quarter. Manning & Napier Advisors LLC now owns 3,236,578 shares of the biopharmaceutical company’s stock worth $176,003,000 after buying an additional 176,298 shares in the last quarter. Finally, Rathbone Brothers plc boosted its stake in Bristol-Myers Squibb by 3.7% in the first quarter. Rathbone Brothers plc now owns 55,248 shares of the biopharmaceutical company’s stock worth $3,004,000 after buying an additional 1,970 shares in the last quarter. 69.68% of the stock is currently owned by hedge funds and other institutional investors.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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