Brokerages Set Bristol-Myers Squibb (NYSE:BMY) PT at $73.45

Bristol-Myers Squibb (NYSE:BMY) has received an average rating of “Buy” from the seventeen brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $73.45.

A number of analysts have recently commented on the stock. Truist assumed coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. They issued a “buy” rating and a $74.00 price target for the company. Morgan Stanley lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 29th. Bank of America restated a “buy” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, July 28th. Finally, Truist Securities initiated coverage on shares of Bristol-Myers Squibb in a research report on Wednesday, July 28th. They set a “buy” rating and a $74.00 target price for the company.

In other Bristol-Myers Squibb news, CFO David V. Elkins sold 99,691 shares of the company’s stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $66.95, for a total value of $6,674,312.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BMY. Family Management Corp lifted its holdings in shares of Bristol-Myers Squibb by 2.9% in the first quarter. Family Management Corp now owns 49,613 shares of the biopharmaceutical company’s stock worth $3,132,000 after buying an additional 1,377 shares in the last quarter. Biondo Investment Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 5.0% in the second quarter. Biondo Investment Advisors LLC now owns 96,114 shares of the biopharmaceutical company’s stock worth $6,422,000 after buying an additional 4,608 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 8.7% in the second quarter. Taylor Frigon Capital Management LLC now owns 20,395 shares of the biopharmaceutical company’s stock worth $1,363,000 after buying an additional 1,639 shares in the last quarter. Swaine & Leidel Wealth Services LLC lifted its holdings in shares of Bristol-Myers Squibb by 131.9% in the first quarter. Swaine & Leidel Wealth Services LLC now owns 61,013 shares of the biopharmaceutical company’s stock worth $3,852,000 after buying an additional 34,705 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Bristol-Myers Squibb by 2.5% in the first quarter. Nordea Investment Management AB now owns 13,563,016 shares of the biopharmaceutical company’s stock worth $854,199,000 after buying an additional 332,418 shares in the last quarter. Institutional investors and hedge funds own 72.10% of the company’s stock.

Shares of Bristol-Myers Squibb stock opened at $60.33 on Friday. The company has a 50-day simple moving average of $66.48 and a two-hundred day simple moving average of $65.37. Bristol-Myers Squibb has a 52-week low of $56.75 and a 52-week high of $69.75. The stock has a market capitalization of $134.06 billion, a PE ratio of -26.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.42 and a current ratio of 1.54.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Tuesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. Bristol-Myers Squibb had a negative net margin of 11.44% and a positive return on equity of 37.76%. The firm had revenue of $11.70 billion during the quarter, compared to analyst estimates of $11.24 billion. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 7.46 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Friday, October 1st will be given a $0.49 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.25%. Bristol-Myers Squibb’s payout ratio is currently 30.43%.

Bristol-Myers Squibb Company Profile

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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

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