Bristol-Myers Squibb Company (NYSE:BMY) Given a $60.00 Price Target at Piper Jaffray Companies
Piper Jaffray Companies set a $60.00 price objective on Bristol-Myers Squibb Company (NYSE:BMY) in a research note published on Thursday morning. The firm currently has a hold rating on the biopharmaceutical company’s stock.
Other research analysts also recently issued reports about the stock. Vetr downgraded shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating and set a $59.88 target price on the stock. in a research report on Monday, April 24th. Jefferies Group LLC reiterated a buy rating and set a $64.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. BidaskClub upgraded shares of Bristol-Myers Squibb from a hold rating to a buy rating in a research note on Tuesday, June 27th. Cowen and Company set a $65.00 price target on shares of Bristol-Myers Squibb and gave the stock a hold rating in a research note on Monday, July 10th. Finally, Deutsche Bank AG set a $55.00 price target on shares of Bristol-Myers Squibb and gave the stock a hold rating in a research note on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $63.32.
Bristol-Myers Squibb (NYSE BMY) opened at 55.27 on Thursday. The company’s 50-day moving average is $55.41 and its 200-day moving average is $54.55. Bristol-Myers Squibb has a 52-week low of $46.01 and a 52-week high of $76.30. The firm has a market capitalization of $90.64 billion, a P/E ratio of 20.19 and a beta of 1.16.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm 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 disclosed 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. This represents a $1.56 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 56.73%.
Several hedge funds have recently made changes to their positions in BMY. State Street Corp boosted its stake in shares of Bristol-Myers Squibb by 1.8% in the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after buying an additional 1,223,457 shares during the period. Dodge & Cox bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $1,316,815,000. Jennison Associates LLC boosted its stake in shares of Bristol-Myers Squibb by 0.8% in the first quarter. Jennison Associates LLC now owns 21,927,898 shares of the biopharmaceutical company’s stock valued at $1,192,439,000 after buying an additional 178,436 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after buying an additional 2,451,390 shares during the period. Finally, Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $770,318,000. Hedge funds and other institutional investors own 69.56% 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.
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