Citigroup Lowers Bristol-Myers Squibb (NYSE:BMY) to Neutral

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) was downgraded by equities researchers at Citigroup from a "buy" rating to a "neutral" rating in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $55.00 price objective on the biopharmaceutical company's stock, down from their prior price objective of $75.00. Citigroup's target price indicates a potential upside of 5.94% from the stock's previous close.

A number of other research analysts have also recently weighed in on the stock. UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. StockNews.com upgraded Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a research note on Monday, July 29th. Cantor Fitzgerald reiterated a "neutral" rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. TD Cowen upped their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. Finally, Barclays lifted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $53.31.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded down $1.01 during midday trading on Friday, hitting $51.92. 7,126,298 shares of the company were exchanged, compared to its average volume of 14,553,149. The business has a fifty day simple moving average of $50.70 and a two-hundred day simple moving average of $46.44. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The firm has a market capitalization of $105.24 billion, a PE ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $55.29.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion for the quarter, compared to analysts' expectations of $11.54 billion. During the same quarter last year, the company earned $1.75 EPS. The business's revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $34,000. LGT Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 227 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at approximately $47,000. Finally, MFA Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb in the second quarter valued at approximately $39,000. 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.