UBS Group Boosts Bristol-Myers Squibb (NYSE:BMY) Price Target to $54.00

Bristol-Myers Squibb (NYSE:BMY) had its price objective raised by investment analysts at UBS Group from $50.00 to $54.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. UBS Group’s price objective indicates a potential upside of 2.27% from the stock’s current price.

BMY has been the subject of several other reports. Jefferies Financial Group lifted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Barclays raised their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $53.00.

Bristol-Myers Squibb Stock Up 0.6 %

NYSE:BMY traded up $0.32 on Wednesday, reaching $52.80. 10,394,697 shares of the stock traded hands, compared to its average volume of 15,009,663. The company’s fifty day simple moving average is $49.50 and its 200 day simple moving average is $46.34. The company has a market capitalization of $107.03 billion, a price-to-earnings ratio of -17.03, a PEG ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.65. 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 (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period in the previous year, the business earned $1.75 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently bought and sold shares of the business. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the first quarter valued at $27,000. LGT Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $39,000. Fairman Group LLC bought a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in Bristol-Myers Squibb during the 2nd quarter valued at approximately $42,000. 76.41% of the stock is owned by institutional investors.

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.