Deutsche Bank AG Analysts Give Bristol-Myers Squibb Company (BMY) a $55.00 Price Target
Deutsche Bank AG set a $55.00 target price on Bristol-Myers Squibb Company (NYSE:BMY) in a research note published on Monday morning. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.
Other research analysts have also recently issued research reports about the company. BMO Capital Markets cut Bristol-Myers Squibb from a market perform rating to an underperform rating and set a $47.00 target price on the stock. in a research report on Wednesday, May 3rd. Jefferies Group LLC reiterated a buy rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. BidaskClub cut Bristol-Myers Squibb from a buy rating to a hold rating in a research report on Monday, July 3rd. William Blair reiterated an outperform rating on shares of Bristol-Myers Squibb in a research report on Monday, June 26th. Finally, Cowen and Company set a $65.00 target price on Bristol-Myers Squibb and gave the company a hold rating in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $63.26.
Shares of Bristol-Myers Squibb (BMY) opened at 55.44 on Monday. The firm’s 50-day moving average is $55.02 and its 200-day moving average is $54.70. The company has a market cap of $91.33 billion, a price-to-earnings ratio of 19.26 and a beta of 1.17. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $76.80. Bristol-Myers Squibb also was the recipient of some unusual options trading on Thursday. Stock traders purchased 781 put options on the company. This represents an increase of approximately 117% compared to the average volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 27th. The biopharmaceutical company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.12. Bristol-Myers Squibb had a return on equity of 31.86% and a net margin of 24.22%. The firm had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts expect that Bristol-Myers Squibb will post $2.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Wednesday, July 5th. Bristol-Myers Squibb’s payout ratio is 54.17%.
Institutional investors have recently modified their holdings of the company. State Street Corp raised its position 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 worth $3,746,446,000 after buying an additional 1,223,457 shares during the last quarter. Dodge & Cox purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $1,316,815,000. Jennison Associates LLC raised its position 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 worth $1,192,439,000 after buying an additional 178,436 shares during the last quarter. Ameriprise Financial Inc. raised its position 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 worth $845,504,000 after buying an additional 2,451,390 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $770,318,000. 69.63% of the stock is currently owned by institutional investors.
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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