Bristol Myers Squibb Company (NYSE:BMY) Given Average Rating of "Hold" by Brokerages

Key Points

• Bristol Myers Squibb has received an average rating of "Hold" from 21 brokerages, with two analysts recommending a sell, five buy recommendations, and two strong buy ratings.
• The company's stock opened at $48.44 and has a twelve-month price objective of $58.53 set by brokerages.
• Bristol Myers Squibb reported a quarterly EPS of $1.80, exceeding estimates, alongside revenue of $11.20 billion, although down 5.6% year-over-year.

Bristol Myers Squibb Company (NYSE:BMY - Get Free Report) has earned an average recommendation of "Hold" from the twenty-one analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $58.53.

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price for the company. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Morgan Stanley dropped their target price on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a report on Thursday, July 10th. Finally, Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th.

Bristol Myers Squibb Price Performance

NYSE:BMY traded up $0.07 during trading hours on Friday, reaching $46.93. 828,180 shares of the company were exchanged, compared to its average volume of 13,207,194. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The stock's 50-day moving average is $47.65 and its 200-day moving average is $52.49. The firm has a market cap of $95.50 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.50 and a beta of 0.36. Bristol Myers Squibb has a twelve month low of $44.00 and a twelve month high of $63.33.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.28%. Bristol Myers Squibb's payout ratio is currently 92.88%.

Institutional Trading of Bristol Myers Squibb

Several hedge funds have recently made changes to their positions in BMY. Pinney & Scofield Inc. acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth about $25,000. Trifecta Capital Advisors LLC purchased a new position in Bristol Myers Squibb in the second quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new position in Bristol Myers Squibb in the fourth quarter valued at approximately $26,000. Transce3nd LLC purchased a new position in shares of Bristol Myers Squibb during the fourth quarter worth approximately $28,000. Finally, Global Wealth Strategies & Associates grew its position in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

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.