Bristol-Myers Squibb (NYSE:BMY) PT Lowered to $48.00 at BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY) had its price target trimmed by BMO Capital Markets from $55.00 to $48.00 in a report issued on Friday, Benzinga reports. The firm currently has a market perform rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. Redburn Atlantic downgraded Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. William Blair reaffirmed a market perform rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a research report on Thursday, April 18th. StockNews.com downgraded Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research report on Monday, April 15th. Finally, Bank of America downgraded Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $44.86 on Friday. The firm has a market capitalization of $90.92 billion, a PE ratio of -14.47, a P/E/G ratio of 16.25 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The business has a 50-day moving average of $51.03 and a two-hundred day moving average of $51.18. Bristol-Myers Squibb has a 12 month low of $44.34 and a 12 month high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.55 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.35%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Institutional Trading of Bristol-Myers Squibb

Several institutional investors and hedge funds have recently bought and sold shares of BMY. OFI Invest Asset Management acquired a new stake in Bristol-Myers Squibb during the third quarter valued at approximately $25,000. Milestone Investment Advisors LLC acquired a new stake in Bristol-Myers Squibb during the third quarter valued at approximately $27,000. Northwest Financial Advisors acquired a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $27,000. Blue Bell Private Wealth Management LLC raised its position in shares of Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Finally, Accordant Advisory Group Inc acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $31,000. 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.