Piper Sandler Begins Coverage on Bristol-Myers Squibb (NYSE:BMY)

Analysts at Piper Sandler assumed coverage on shares of Bristol-Myers Squibb (NYSE:BMY - Get Free Report) in a research report issued on Tuesday, Marketbeat reports. The firm set an "overweight" rating and a $65.00 price target on the biopharmaceutical company's stock. Piper Sandler's price target would suggest a potential upside of 37.24% from the company's previous close.

BMY has been the subject of several other research reports. Truist Financial lifted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. UBS Group lowered their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Cantor Fitzgerald increased their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Finally, Citigroup upped their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $58.00.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $1.33 during trading hours on Tuesday, reaching $47.36. 1,815,863 shares of the company were exchanged, compared to its average volume of 13,035,838. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a market capitalization of $96.37 billion, a P/E ratio of -10.74, a P/E/G ratio of 2.07 and a beta of 0.41. The business has a 50 day moving average of $56.50 and a 200 day moving average of $56.50.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. The business had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. During the same quarter in the prior year, the firm earned ($4.40) EPS. Research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently bought and sold shares of BMY. Pinney & Scofield Inc. acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $26,000. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $28,000. Transce3nd LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $28,000. Finally, Global Wealth Strategies & Associates increased its stake in Bristol-Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares during the last quarter. 76.41% of the stock is owned by 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.