Bristol-Myers Squibb (NYSE:BMY) Price Target Lowered to $54.00 at UBS Group

Bristol-Myers Squibb (NYSE:BMY - Free Report) had its price objective cut by UBS Group from $60.00 to $54.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company's stock.

Other research analysts have also issued research reports about the company. Jefferies Financial Group upgraded Bristol-Myers Squibb from a "hold" rating to a "buy" rating and lifted their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Truist Financial lifted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $57.67.

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Bristol-Myers Squibb Price Performance

BMY traded down $0.25 during trading on Friday, reaching $49.75. 6,862,064 shares of the company traded hands, compared to its average volume of 12,924,014. The company has a market cap of $101.23 billion, a P/E ratio of -11.26, a PEG ratio of 2.07 and a beta of 0.41. The firm has a fifty day simple moving average of $57.39 and a 200 day simple moving average of $56.73. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month 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 results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 4.98%. Bristol-Myers Squibb's dividend payout ratio is currently -56.11%.

Insider Activity

In related news, EVP Samit Hirawat bought 1,823 shares of the company's stock in a transaction on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.07% of the company's stock.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently made changes to their positions in BMY. Vanguard Group Inc. lifted its position in shares of Bristol-Myers Squibb by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock valued at $10,743,262,000 after buying an additional 1,373,209 shares during the last quarter. Capital International Investors grew its holdings in Bristol-Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after purchasing an additional 3,218,865 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 worth $2,505,967,000 after purchasing an additional 1,187,231 shares in the last quarter. Norges Bank purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $1,989,525,000. Finally, Ameriprise Financial Inc. increased its position in Bristol-Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after buying an additional 12,011,983 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.