Bristol Myers Squibb Company (NYSE:BMY) Receives $56.38 Consensus PT from Analysts

Bristol Myers Squibb Company (NYSE:BMY) has been given a consensus rating of “Hold” by the twenty-one brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $56.3750.

A number of research firms recently commented on BMY. Citigroup dropped their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research report on Tuesday, August 5th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Bristol Myers Squibb

Several hedge funds and other institutional investors have recently bought and sold shares of BMY. Vanguard Group Inc. raised its position in shares of Bristol Myers Squibb by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 194,925,206 shares of the biopharmaceutical company’s stock valued at $9,023,088,000 after purchasing an additional 3,522,202 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Bristol Myers Squibb by 16.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock valued at $3,277,456,000 after purchasing an additional 10,195,775 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bristol Myers Squibb by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 46,176,690 shares of the biopharmaceutical company’s stock valued at $2,132,976,000 after purchasing an additional 723,459 shares in the last quarter. Norges Bank acquired a new position in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $1,554,154,000. Finally, Ameriprise Financial Inc. raised its position in shares of Bristol Myers Squibb by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 32,579,618 shares of the biopharmaceutical company’s stock valued at $1,508,099,000 after purchasing an additional 432,158 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Trading Down 1.2%

NYSE:BMY opened at $45.05 on Monday. The company has a market capitalization of $91.70 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.33 and a beta of 0.35. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb has a 52-week low of $42.96 and a 52-week high of $63.33. The stock has a fifty day simple moving average of $46.93 and a 200-day simple moving average of $49.73.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts expect 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 will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.5%. Bristol Myers Squibb’s payout ratio is presently 100.00%.

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.