Bristol-Myers Squibb Company (BMY) Price Target Increased to $72.00 by Analysts at Citigroup Inc.
Bristol-Myers Squibb Company (NYSE:BMY) had its target price raised by Citigroup Inc. to $72.00 in a report released on Wednesday morning. They currently have a buy rating on the biopharmaceutical company’s stock.
Other analysts also recently issued research reports about the stock. Credit Suisse Group set a $58.00 target price on shares of Bristol-Myers Squibb and gave the company a hold rating in a research report on Wednesday, August 16th. BMO Capital Markets reissued an underperform rating and set a $47.00 target price (down previously from $51.00) on shares of Bristol-Myers Squibb in a research report on Wednesday, July 26th. Leerink Swann decreased their target price on shares of Bristol-Myers Squibb from $66.00 to $61.00 and set an outperform rating for the company in a research report on Friday, July 28th. Goldman Sachs Group, Inc. (The) reissued a buy rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. Finally, Cowen and Company reissued a hold rating and set a $65.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Bristol-Myers Squibb presently has an average rating of Hold and an average price target of $63.79.
Bristol-Myers Squibb (BMY) opened at 64.42 on Wednesday. The company’s 50-day moving average is $63.37 and its 200-day moving average is $57.29. The firm has a market cap of $105.64 billion, a PE ratio of 23.53 and a beta of 1.19. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. On average, analysts forecast that Bristol-Myers Squibb will post $2.99 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 56.73%.
In other news, Director Theodore R. Samuels II bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were bought at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph C. Caldarella sold 9,340 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the transaction, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Bristol-Myers Squibb by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after purchasing an additional 333,685 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Bristol-Myers Squibb by 2.4% in the 2nd quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after purchasing an additional 2,367,864 shares in the last quarter. State Street Corp lifted its holdings in shares of Bristol-Myers Squibb by 1.8% in the 1st quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock worth $3,746,446,000 after purchasing an additional 1,223,457 shares in the last quarter. Dodge & Cox lifted its holdings in shares of Bristol-Myers Squibb by 1.6% in the 2nd quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after purchasing an additional 459,271 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Bristol-Myers Squibb by 3.9% in the 2nd quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock worth $1,339,612,000 after purchasing an additional 910,496 shares in the last quarter. Institutional investors own 68.84% 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.
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