Bristol-Myers Squibb (NYSE:BMY) Receives $57.67 Consensus Price Target from Analysts

Shares of Bristol-Myers Squibb (NYSE:BMY - Get Free Report) have earned a consensus rating of "Hold" from the twenty brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $58.00.

A number of research analysts have recently issued reports on BMY shares. Piper Sandler initiated coverage on Bristol-Myers Squibb in a report on Tuesday. They issued an "overweight" rating and a $65.00 price target on the stock. Truist Financial increased their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Citigroup lifted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th.

Bristol-Myers Squibb Trading Down 2.2 %

BMY traded down $1.10 during trading on Friday, hitting $48.72. 6,050,123 shares of the stock were exchanged, compared to its average volume of 12,222,889. The firm has a 50 day simple moving average of $56.71 and a 200 day simple moving average of $56.59. The firm has a market cap of $99.13 billion, a price-to-earnings ratio of -11.02, a P/E/G ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, equities analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.09%. Bristol-Myers Squibb's payout ratio is -56.11%.

Insider Activity

In related news, EVP Samit Hirawat purchased 1,823 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company's stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently made changes to their positions in BMY. Truist Financial Corp increased its position in shares of Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock worth $90,335,000 after acquiring an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Bristol-Myers Squibb in the fourth quarter worth $488,000. Inspire Trust Co. N.A. increased its position in Bristol-Myers Squibb by 39.0% in the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock worth $5,355,000 after buying an additional 29,044 shares during the period. Versant Capital Management Inc increased its holdings in shares of Bristol-Myers Squibb by 14.0% during the fourth quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company's stock valued at $4,451,000 after purchasing an additional 9,692 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $474,000. Institutional investors and hedge funds 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.