Bristol Myers Squibb Company (NYSE:BMY) Stock Has Average Target Price of $64.88 According to Analysts

Shares of Bristol Myers Squibb Company (NYSE:BMY) have received a consensus recommendation of “Moderate Buy” from the thirty analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $64.88.

A number of equities research analysts recently commented on BMY shares. Weiss Ratings raised Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Guggenheim reissued a “buy” rating and issued a $75.00 target price (up from $72.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. Cantor Fitzgerald reduced their target price on Bristol Myers Squibb from $59.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. JPMorgan Chase & Co. raised their target price on Bristol Myers Squibb from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Piper Sandler restated an “overweight” rating and set a $82.00 target price (up from $75.00) on shares of Bristol Myers Squibb in a research report on Wednesday, September 16th.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $58.83 on Tuesday. The business’s 50-day simple moving average is $63.43 and its 200 day simple moving average is $60.28. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89. The stock has a market cap of $120.18 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 0.30 and a beta of 0.19. Bristol Myers Squibb has a 12-month low of $42.52 and a 12-month high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.44. The company had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, research analysts anticipate that Bristol Myers Squibb will post 6.56 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 2nd will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, October 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 55.51%.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total transaction of $33,750.00. Following the completion of the transaction, the senior vice president owned 16,862 shares in the company, valued at approximately $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is owned by insiders.

Institutional Investors Weigh In On Bristol Myers Squibb

A number of hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC boosted its position in Bristol Myers Squibb by 23.7% in the first quarter. Lazard Asset Management LLC now owns 1,924,036 shares of the biopharmaceutical company’s stock worth $116,693,000 after purchasing an additional 368,193 shares during the last quarter. Callan Family Office LLC bought a new position in Bristol Myers Squibb in the 2nd quarter valued at $3,575,000. BlackRock Inc. increased its position in shares of Bristol Myers Squibb by 5.1% during the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock valued at $10,393,783,000 after purchasing an additional 8,702,106 shares during the last quarter. Saudi Central Bank increased its position in shares of Bristol Myers Squibb by 90.2% during the 2nd quarter. Saudi Central Bank now owns 142,922 shares of the biopharmaceutical company’s stock valued at $8,235,000 after purchasing an additional 67,780 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Bristol Myers Squibb during the 2nd quarter worth $1,901,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

About Bristol Myers Squibb

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company’s portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.