Bristol-Myers Squibb (NYSE:BMY) PT Lowered to $45.00 at Deutsche Bank Aktiengesellschaft

Bristol-Myers Squibb (NYSE:BMY) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $53.00 to $45.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has a hold rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on BMY. William Blair reaffirmed a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets dropped their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a research note on Friday, April 26th. StockNews.com lowered Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research note on Thursday, June 27th. Barclays dropped their price target on Bristol-Myers Squibb from $43.00 to $41.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $57.73.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $45.27 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The business has a 50-day simple moving average of $41.63 and a two-hundred day simple moving average of $46.83. The stock has a market cap of $91.77 billion, a price-to-earnings ratio of -14.60, a PEG ratio of 15.94 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.89.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The firm 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 8.83% and a negative net margin of 13.50%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. On average, analysts expect that Bristol-Myers Squibb will post 0.54 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.30%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwest Financial Advisors purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $27,000. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter worth $27,000. Accordant Advisory Group Inc purchased a new position in Bristol-Myers Squibb during the 1st quarter worth $31,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $34,000. Finally, MFA Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb during the 2nd quarter worth $39,000. 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.