Bristol-Myers Squibb (BMY) Price Target Increased to $58.00 by Analysts at Barclays

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Bristol-Myers Squibb (NYSE:BMY) had its price objective hoisted by Barclays from $55.00 to $58.00 in a report released on Friday morning. Barclays currently has an equal weight rating on the biopharmaceutical company’s stock.

Several other research firms have also commented on BMY. Guggenheim assumed coverage on shares of Bristol-Myers Squibb in a research note on Monday, October 8th. They set a neutral rating for the company. JPMorgan Chase & Co. increased their target price on shares of Bristol-Myers Squibb from $70.00 to $74.00 and gave the company an overweight rating in a research note on Monday, October 8th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a hold rating to a buy rating and set a $70.00 target price for the company in a research note on Friday, October 5th. Credit Suisse Group reissued a hold rating and set a $61.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, September 12th. Finally, Atlantic Securities raised shares of Bristol-Myers Squibb from an underweight rating to a neutral rating and set a $57.00 target price for the company in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $63.13.

Shares of Bristol-Myers Squibb stock traded up $0.01 on Friday, hitting $57.51. The company had a trading volume of 10,484,764 shares, compared to its average volume of 7,383,813. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.40 and a quick ratio of 1.28. The stock has a market capitalization of $101.47 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.70 and a beta of 0.98. Bristol-Myers Squibb has a 52 week low of $49.96 and a 52 week high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.14. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. On average, analysts forecast that Bristol-Myers Squibb will post 3.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, October 5th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 53.16%.

Several large investors have recently modified their holdings of the stock. Private Capital Advisors Inc. purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $452,000. Selective Wealth Management acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth $184,000. Bank of Montreal Can increased its stake in shares of Bristol-Myers Squibb by 13.9% during the 3rd quarter. Bank of Montreal Can now owns 5,862,162 shares of the biopharmaceutical company’s stock worth $363,924,000 after purchasing an additional 717,503 shares during the last quarter. Peoples Financial Services CORP. increased its stake in shares of Bristol-Myers Squibb by 12.8% during the 3rd quarter. Peoples Financial Services CORP. now owns 44,843 shares of the biopharmaceutical company’s stock worth $2,784,000 after purchasing an additional 5,075 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 20.6% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 37,465 shares of the biopharmaceutical company’s stock worth $2,326,000 after purchasing an additional 6,408 shares during the last quarter. Institutional investors and hedge funds own 72.28% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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

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