Bristol-Myers Squibb Company (BMY) Price Target Raised to $72.00 at Citigroup Inc.
Bristol-Myers Squibb Company (NYSE:BMY) had its price target raised by Citigroup Inc. to $72.00 in a research note issued to investors on Wednesday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Several other equities analysts have also issued reports on the company. Jefferies Group LLC lowered Bristol-Myers Squibb from a buy rating to a hold rating and set a $72.00 price target on the stock. in a research note on Monday. Barclays PLC boosted their price objective on Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an equal weight rating in a research report on Friday, October 13th. BMO Capital Markets set a $49.00 price objective on Bristol-Myers Squibb and gave the stock a sell rating in a research report on Thursday, October 12th. Vetr upgraded Bristol-Myers Squibb from a hold rating to a buy rating and set a $67.92 price objective on the stock in a research report on Monday, October 9th. Finally, UBS AG restated a buy rating and set a $72.00 price objective (up previously from $62.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Bristol-Myers Squibb has a consensus rating of Hold and an average price target of $63.79.
Shares of Bristol-Myers Squibb (NYSE:BMY) traded up 1.52% during mid-day trading on Wednesday, hitting $64.67. The stock had a trading volume of 4,919,469 shares. Bristol-Myers Squibb has a 52 week low of $46.01 and a 52 week high of $66.10. The firm has a market cap of $106.05 billion, a PE ratio of 23.62 and a beta of 1.19. The stock has a 50 day moving average price of $63.11 and a 200 day moving average price of $57.16.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts expect that Bristol-Myers Squibb will post $2.98 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 56.73%.
In other news, Director Theodore R. Samuels II purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average cost of $55.94 per share, with a total value of $335,640.00. Following the purchase, the director now owns 18,000 shares in the company, valued at $1,006,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph C. Caldarella sold 9,340 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the transaction, the senior vice president now directly owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of BMY. Renaissance Technologies LLC raised its stake in shares of Bristol-Myers Squibb by 108.5% in the second quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after purchasing an additional 7,020,200 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Bristol-Myers Squibb by 185.2% in the second quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after purchasing an additional 3,960,191 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Bristol-Myers Squibb by 2,990.5% in the second quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after purchasing an additional 3,516,536 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Bristol-Myers Squibb by 42,071.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after purchasing an additional 3,323,649 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock worth $845,504,000 after purchasing an additional 2,451,390 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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