Brokerages Set Bristol Myers Squibb Company (NYSE:BMY) Target Price at $57.23

Bristol Myers Squibb Company (NYSE:BMY) has been given an average rating of “Hold” by the twenty-one research firms that are covering the firm, Marketbeat Ratings reports. Fifteen investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $57.2308.

Several equities analysts have issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday. Finally, Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by insiders.

Institutional Trading of Bristol Myers Squibb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MSH Capital Advisors LLC boosted its stake in shares of Bristol Myers Squibb by 2.9% during the 3rd quarter. MSH Capital Advisors LLC now owns 8,034 shares of the biopharmaceutical company’s stock worth $362,000 after acquiring an additional 223 shares during the last quarter. Aspire Capital Advisors LLC bought a new position in Bristol Myers Squibb in the 3rd quarter worth $506,000. IMA Advisory Services Inc. lifted its position in Bristol Myers Squibb by 22.7% during the third quarter. IMA Advisory Services Inc. now owns 1,890 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 350 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in Bristol Myers Squibb during the third quarter valued at about $460,000. Finally, Assetmark Inc. increased its position in Bristol Myers Squibb by 16.5% in the third quarter. Assetmark Inc. now owns 240,622 shares of the biopharmaceutical company’s stock worth $10,852,000 after buying an additional 34,057 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

Shares of BMY opened at $46.70 on Tuesday. The company has a market cap of $95.07 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 2.23 and a beta of 0.33. The business’s fifty day simple moving average is $45.26 and its two-hundred day simple moving average is $46.73. Bristol Myers Squibb has a 12 month low of $42.52 and a 12 month high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the business earned $1.80 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Research analysts anticipate that Bristol Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 83.78%.

Bristol Myers Squibb Company Profile

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.