Bristol-Myers Squibb (NYSE:BMY) PT Raised to $43.00 at Barclays

Bristol-Myers Squibb (NYSE:BMY) had its price target increased by investment analysts at Barclays from $42.00 to $43.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the biopharmaceutical company’s stock. Barclays‘s price objective would suggest a potential downside of 18.06% from the stock’s previous close.

Other research analysts have also issued research reports about the company. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. BMO Capital Markets restated a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft cut 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 report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $53.43.

Bristol-Myers Squibb Stock Down 1.8 %

BMY stock opened at $52.48 on Monday. The stock has a market capitalization of $106.38 billion, a P/E ratio of -16.93, a P/E/G ratio of 12.96 and a beta of 0.46. The firm has a 50-day simple moving average of $49.43 and a 200-day simple moving average of $46.34. 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 quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) 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 company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the company earned $1.75 EPS. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. Equities analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Global Assets Advisory LLC purchased a new position in Bristol-Myers Squibb in the first quarter worth approximately $5,161,000. Lincoln National Corp lifted its stake in Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after acquiring an additional 3,052 shares during the last quarter. Chapin Davis Inc. lifted its stake in Bristol-Myers Squibb by 22.6% in the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after acquiring an additional 4,159 shares during the last quarter. Sierra Summit Advisors LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $755,000. Finally, Accel Wealth Management lifted its stake in Bristol-Myers Squibb by 19.0% in the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 788 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.