Bristol-Myers Squibb (NYSE:BMY) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note issued to investors on Thursday, Briefing.com reports. The brokerage set a “market perform” rating and a $56.00 price target on the biopharmaceutical company’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 4.93% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. BMO Capital Markets restated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Price Performance

BMY opened at $53.37 on Thursday. The company has a market cap of $108.19 billion, a P/E ratio of -17.22, a P/E/G ratio of 13.75 and a beta of 0.46. The company has a 50 day moving average of $50.10 and a two-hundred day moving average of $46.37. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $57.65.

Bristol-Myers Squibb (NYSE:BMY) last announced its 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. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. On average, analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Institutional Trading of Bristol-Myers Squibb

Institutional investors and hedge funds have recently modified their holdings of the business. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth about $27,000. LGT Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $34,000. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth about $39,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth about $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

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.