Bristol-Myers Squibb (NYSE:BMY) received a $59.00 price target from equities researchers at Credit Suisse Group in a research report issued to clients and investors on Monday, February 4th. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective points to a potential upside of 10.86% from the stock’s previous close.
Other analysts have also recently issued reports about the company. Guggenheim assumed coverage on Bristol-Myers Squibb in a report on Monday, October 8th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lifted their price objective on Bristol-Myers Squibb from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, October 8th. Barclays lifted their price objective on Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, October 12th. William Blair reaffirmed an “outperform” rating on shares of Bristol-Myers Squibb in a report on Monday, October 22nd. Finally, Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $62.00 to $57.00 in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $60.03.
Shares of BMY traded up $1.56 during mid-day trading on Monday, reaching $53.22. The company’s stock had a trading volume of 34,618,972 shares, compared to its average volume of 14,490,035. The company has a market cap of $86.87 billion, a P/E ratio of 13.37, a PEG ratio of 2.25 and a beta of 0.83. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.40 and a current ratio of 1.53. Bristol-Myers Squibb has a 12-month low of $44.30 and a 12-month high of $68.22.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, January 24th. The biopharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. Bristol-Myers Squibb had a return on equity of 50.03% and a net margin of 21.95%. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.95 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts predict that Bristol-Myers Squibb will post 4.15 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Highwater Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $170,000. SFE Investment Counsel lifted its stake in shares of Bristol-Myers Squibb by 8.6% during the third quarter. SFE Investment Counsel now owns 16,375 shares of the biopharmaceutical company’s stock worth $1,017,000 after purchasing an additional 1,290 shares in the last quarter. Benedict Financial Advisors Inc. lifted its stake in shares of Bristol-Myers Squibb by 4.0% during the third quarter. Benedict Financial Advisors Inc. now owns 25,248 shares of the biopharmaceutical company’s stock worth $1,567,000 after purchasing an additional 974 shares in the last quarter. Yorktown Management & Research Co Inc lifted its stake in shares of Bristol-Myers Squibb by 400.0% during the third quarter. Yorktown Management & Research Co Inc now owns 20,000 shares of the biopharmaceutical company’s stock worth $1,242,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Hollencrest Capital Management lifted its stake in shares of Bristol-Myers Squibb by 176.1% during the fourth quarter. Hollencrest Capital Management now owns 9,604 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 6,126 shares in the last quarter. 72.56% of the stock is owned by institutional investors and hedge funds.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic areas, such as oncology; cardiovascular; immunoscience; and human immunodeficiency virus (HIV) infection. Its products include Opdivo, a biological product for anti-cancer indications; Eliquis, an inhibitor targeted at stroke prevention in atrial fibrillation and prevention and treatment of venous thromboembolic disorders; Orencia, a biological product that targets adult patients with active rheumatoid arthritis and prostate-specific antigen; and Sprycel, a tyrosine kinase inhibitor for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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