Bristol-Myers Squibb (NYSE:BMY) Earns “Market Perform” Rating from BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY)‘s stock had its “market perform” rating reiterated by BMO Capital Markets in a report issued on Monday, Benzinga reports. They presently have a $48.00 target price on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective indicates a potential downside of 5.79% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Barclays increased their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Finally, TD Cowen boosted their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Trading Up 1.9 %

Shares of Bristol-Myers Squibb stock opened at $50.95 on Monday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $59.28. The company has a market capitalization of $103.28 billion, a price-to-earnings ratio of -16.44, a P/E/G ratio of 12.59 and a beta of 0.46. The business has a fifty day simple moving average of $48.07 and a two-hundred day simple moving average of $46.36. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the prior year, the firm earned $1.75 EPS. The business’s revenue was up 8.7% on a year-over-year basis. Research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Institutional Trading of Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently made changes to their positions in BMY. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth $27,000. LGT Financial Advisors LLC lifted its holdings in 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 period. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $39,000. Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $42,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb during the second quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Company Profile

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.