Bristol-Myers Squibb (NYSE:BMY) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Bristol-Myers Squibb (NYSE:BMY) had its price target hoisted by stock analysts at BMO Capital Markets from $57.00 to $61.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 4.40% from the company’s previous close.

A number of other analysts have also issued reports on BMY. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, TD Cowen lifted their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Price Performance

BMY stock opened at $58.43 on Tuesday. The company has a fifty day simple moving average of $52.24 and a two-hundred day simple moving average of $46.99. The firm has a market capitalization of $118.51 billion, a P/E ratio of -16.28, a price-to-earnings-growth ratio of 21.34 and a beta of 0.44. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the firm earned $2.00 EPS. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. Analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $25,000. Hollencrest Capital Management boosted its position in shares of Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the period. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $27,000. Kennebec Savings Bank purchased a new position in shares of Bristol-Myers Squibb during the third quarter worth approximately $28,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter worth approximately $29,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.