Bristol-Myers Squibb (NYSE:BMY) PT Raised to $52.00 at Wells Fargo & Company

Bristol-Myers Squibb (NYSE:BMY) had its target price increased by stock analysts at Wells Fargo & Company from $51.00 to $52.00 in a report released on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.97% from the company’s current price.

Other research analysts have also issued research reports about the company. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $0.32 during mid-day trading on Thursday, hitting $48.16. The company had a trading volume of 2,451,994 shares, compared to its average volume of 15,664,869. The company has a market capitalization of $97.61 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.49 and a beta of 0.39. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock’s 50 day moving average price is $51.26 and its 200-day moving average price is $51.59.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the business posted $1.82 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts forecast that Bristol-Myers Squibb will post 6.47 earnings per share for the current year.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently bought and sold shares of BMY. BKM Wealth Management LLC grew its stake in Bristol-Myers Squibb by 151.1% during the 1st quarter. BKM Wealth Management LLC now owns 4,924 shares of the biopharmaceutical company’s stock worth $267,000 after buying an additional 2,963 shares during the last quarter. Diversified Trust Co boosted its holdings in Bristol-Myers Squibb by 76.7% in the first quarter. Diversified Trust Co now owns 71,466 shares of the biopharmaceutical company’s stock worth $3,876,000 after acquiring an additional 31,015 shares in the last quarter. Aviance Capital Partners LLC grew its stake in shares of Bristol-Myers Squibb by 22.0% during the first quarter. Aviance Capital Partners LLC now owns 96,494 shares of the biopharmaceutical company’s stock worth $5,233,000 after acquiring an additional 17,396 shares during the last quarter. Mirador Capital Partners LP increased its holdings in shares of Bristol-Myers Squibb by 4.3% during the first quarter. Mirador Capital Partners LP now owns 45,484 shares of the biopharmaceutical company’s stock valued at $2,467,000 after acquiring an additional 1,889 shares in the last quarter. Finally, Chapin Davis Inc. raised its position in shares of Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after purchasing an additional 4,159 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.