Morgan Stanley Forecasts Strong Price Appreciation for Bristol-Myers Squibb (NYSE:BMY) Stock

Bristol-Myers Squibb (NYSE:BMY) had its price target increased by Morgan Stanley from $36.00 to $39.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 33.25% from the stock’s current price.

BMY has been the topic of several other research reports. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. TD Cowen increased 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 report on Monday, October 7th. BMO Capital Markets increased their price target on Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Finally, Barclays increased their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $58.43 on Tuesday. The company’s fifty day simple moving average is $52.24 and its 200-day simple moving average is $46.99. The company has a market cap of $118.51 billion, a PE ratio of -16.28, a P/E/G ratio of 21.34 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

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 business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the firm posted $2.00 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly 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 disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meridian Management Co. lifted its stake in Bristol-Myers Squibb by 0.6% in the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after acquiring an additional 182 shares during the period. Hollencrest Capital Management lifted its position in Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the period. Mayflower Financial Advisors LLC lifted its position in Bristol-Myers Squibb by 2.3% during the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock valued at $438,000 after buying an additional 192 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 206 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its position in Bristol-Myers Squibb by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors 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.