Bristol-Myers Squibb Co. (NYSE:BMY) had its price objective reduced by Citigroup Inc. from $75.00 to $70.00 in a report issued on Tuesday. Citigroup Inc. currently has a buy rating on the biopharmaceutical company’s stock.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

A number of other research firms have also issued reports on BMY. Jefferies Group raised their price target on shares of Bristol-Myers Squibb from $77.00 to $80.00 and gave the stock a hold rating in a research report on Thursday, July 14th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a hold rating to a buy rating and set a $85.00 price target for the company in a research report on Wednesday, July 13th. Berenberg Bank reissued a buy rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Vetr raised shares of Bristol-Myers Squibb from a sell rating to a buy rating and set a $78.73 price target for the company in a research report on Monday, July 25th. Finally, SunTrust Banks Inc. lowered shares of Bristol-Myers Squibb from a buy rating to a neutral rating and reduced their price target for the stock from $86.00 to $68.00 in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $69.64.

Bristol-Myers Squibb (NYSE:BMY) opened at 55.56 on Tuesday. Bristol-Myers Squibb has a 12-month low of $55.02 and a 12-month high of $77.12. The company has a market cap of $92.83 billion, a PE ratio of 32.49 and a beta of 0.61. The company’s 50-day moving average price is $59.58 and its 200-day moving average price is $67.67.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The company earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. Bristol-Myers Squibb’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. Equities analysts anticipate that Bristol-Myers Squibb will post $2.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. Bristol-Myers Squibb’s payout ratio is 87.36%.

In related news, Director Lamberto Andreotti sold 23,200 shares of the business’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $72.14, for a total value of $1,673,648.00. Following the sale, the director now directly owns 403,094 shares in the company, valued at approximately $29,079,201.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

A number of hedge funds have recently modified their holdings of BMY. Handelsbanken Fonder AB raised its stake in shares of Bristol-Myers Squibb by 19.4% in the second quarter. Handelsbanken Fonder AB now owns 141,365 shares of the biopharmaceutical company’s stock valued at $10,397,000 after buying an additional 23,000 shares during the period. Howard Capital Management raised its stake in shares of Bristol-Myers Squibb by 0.7% in the second quarter. Howard Capital Management now owns 153,499 shares of the biopharmaceutical company’s stock valued at $11,290,000 after buying an additional 1,068 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of Bristol-Myers Squibb by 1.1% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,460,780 shares of the biopharmaceutical company’s stock valued at $107,440,000 after buying an additional 15,313 shares during the period. Geode Capital Management LLC raised its stake in shares of Bristol-Myers Squibb by 1.9% in the first quarter. Geode Capital Management LLC now owns 13,534,575 shares of the biopharmaceutical company’s stock valued at $862,835,000 after buying an additional 254,653 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Bristol-Myers Squibb by 1.3% in the first quarter. Legal & General Group Plc now owns 7,584,986 shares of the biopharmaceutical company’s stock valued at $484,521,000 after buying an additional 100,013 shares during the period. Hedge funds and other institutional investors own 72.91% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

5 Day Chart for NYSE:BMY

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