Analysts Set Bristol-Myers Squibb (NYSE:BMY) PT at $58.00

Shares of Bristol-Myers Squibb (NYSE:BMY) have been given an average recommendation of “Hold” by the twenty-two analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $58.00.

BMY has been the topic of several recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. UBS Group dropped their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Wall Street Zen cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th.

Bristol-Myers Squibb Trading Down 1.9%

BMY opened at $49.71 on Friday. The stock has a market capitalization of $101.15 billion, a PE ratio of -11.25, a P/E/G ratio of 2.07 and a beta of 0.38. The firm’s fifty day moving average price is $48.71 and its 200 day moving average price is $54.77. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company posted ($4.40) earnings per share. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Bristol-Myers Squibb by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock valued at $11,673,669,000 after buying an additional 1,458,488 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Bristol-Myers Squibb by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock valued at $3,696,415,000 after buying an additional 306,430 shares in the last quarter. Capital International Investors grew its position in Bristol-Myers Squibb by 7.5% in the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock valued at $2,593,940,000 after buying an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC grew its position in Bristol-Myers Squibb by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after buying an additional 1,187,231 shares in the last quarter. Finally, Norges Bank bought a new position in Bristol-Myers Squibb in the 4th quarter valued at about $1,989,525,000. 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.