BMO Capital Markets restated their underperform rating on shares of Bristol-Myers Squibb Company (NYSE:BMY) in a research note issued to investors on Wednesday. BMO Capital Markets currently has a $47.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $51.00.

BMY has been the subject of a number of other research reports. BidaskClub raised Bristol-Myers Squibb from a sell rating to a hold rating in a research report on Saturday, June 10th. Deutsche Bank AG set a $55.00 price target on Bristol-Myers Squibb and gave the company a hold rating in a research report on Monday, July 17th. Jefferies Group LLC reaffirmed a buy rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. Vetr raised Bristol-Myers Squibb from a buy rating to a strong-buy rating and set a $60.09 price target for the company in a research report on Wednesday, April 5th. Finally, Robert W. Baird assumed coverage on Bristol-Myers Squibb in a research report on Tuesday, April 25th. They set an outperform rating for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of Hold and an average target price of $63.32.

Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 55.27 on Wednesday. The firm has a market cap of $91.05 billion, a PE ratio of 20.19 and a beta of 1.17. The company’s 50-day moving average price is $55.41 and its 200 day moving average price is $54.55. Bristol-Myers Squibb has a 1-year low of $46.01 and a 1-year high of $76.30. Bristol-Myers Squibb also was the target of some unusual options trading on Thursday. Stock traders bought 29,818 call options on the company. This is an increase of approximately 149% compared to the typical volume of 11,985 call options.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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 31.95% and a net margin of 22.66%. Bristol-Myers Squibb’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 EPS. On average, analysts predict that Bristol-Myers Squibb will post $2.96 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, July 7th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.82%. Bristol-Myers Squibb’s payout ratio is currently 56.73%.

Several hedge funds have recently bought and sold shares of the company. American National Bank increased its stake in Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares during the last quarter. Welch Investments LLC increased its stake in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in Bristol-Myers Squibb during the first quarter valued at $116,000. Blue Chip Partners Inc. increased its stake in Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in Bristol-Myers Squibb by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 504 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

About Bristol-Myers Squibb

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.

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

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