Bristol-Myers Squibb (NYSE:BMY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Bristol-Myers Squibb (NYSE:BMY) have earned an average rating of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $55.00.

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. TD Cowen increased their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group boosted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors have recently made changes to their positions in the business. Gryphon Financial Partners LLC raised its position in shares of Bristol-Myers Squibb by 23.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 995 shares during the last quarter. Alberta Investment Management Corp raised its holdings in Bristol-Myers Squibb by 39.5% in the 4th quarter. Alberta Investment Management Corp now owns 66,802 shares of the biopharmaceutical company’s stock valued at $3,428,000 after acquiring an additional 18,902 shares in the last quarter. APG Asset Management US Inc. acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $9,712,000. Steward Partners Investment Solutions LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $319,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Bristol-Myers Squibb by 12.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,688,132 shares of the biopharmaceutical company’s stock valued at $86,618,000 after purchasing an additional 180,842 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $50.91 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $58.46. The company has a market cap of $103.20 billion, a PE ratio of -16.42, a PEG ratio of 12.96 and a beta of 0.46. The stock’s 50-day moving average price is $48.53 and its two-hundred day moving average price is $46.28.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.75 EPS. On average, analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.71%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.