Bristol-Myers Squibb (NYSE:BMY) Price Target Cut to $48.00

Bristol-Myers Squibb (NYSE:BMY) had its target price dropped by stock analysts at BMO Capital Markets from $55.00 to $48.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 6.48% from the stock’s current price.

Several other research analysts have also commented on the company. Wells Fargo & Company lifted their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

BMY traded up $0.38 on Friday, hitting $45.08. 10,374,140 shares of the company’s stock were exchanged, compared to its average volume of 15,829,931. Bristol-Myers Squibb has a fifty-two week low of $44.34 and a fifty-two week high of $69.10. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $51.13 and a 200-day moving average price of $51.26. The stock has a market cap of $91.37 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.47 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Hedge Funds Weigh In On Bristol-Myers Squibb

Hedge funds have recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth $25,000. Milestone Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth $27,000. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $27,000. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Finally, Accordant Advisory Group Inc acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth $31,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.