Brokerages Set Bristol Myers Squibb Company (NYSE:BMY) PT at $58.00

Bristol Myers Squibb Company (NYSE:BMY - Get Free Report) has received a consensus recommendation of "Hold" from the twenty-two ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $58.00.

Several equities analysts have weighed in on the company. Piper Sandler assumed coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. Jefferies Financial Group cut their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. UBS Group decreased their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction on Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president directly owned 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bristol Myers Squibb

A number of large investors have recently bought and sold shares of BMY. Pinney & Scofield Inc. bought a new stake in Bristol Myers Squibb during the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb in the 4th quarter worth $26,000. Global Wealth Strategies & Associates grew its stake in shares of Bristol Myers Squibb by 137.5% in 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 period. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at $28,000. Finally, Fairway Wealth LLC bought a new stake in shares of Bristol Myers Squibb during the 4th quarter valued at about $28,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

Shares of NYSE BMY traded down $0.62 during trading on Wednesday, reaching $47.02. The stock had a trading volume of 7,024,133 shares, compared to its average volume of 12,882,565. The stock has a market cap of $95.68 billion, a PE ratio of 17.61, a P/E/G ratio of 1.41 and a beta of 0.36. Bristol Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The firm's 50 day moving average price is $47.78 and its two-hundred day moving average price is $53.75. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the business earned ($4.40) earnings per share. Bristol Myers Squibb's revenue was down 5.6% compared to the same quarter last year. On average, research analysts forecast that Bristol Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.27%. Bristol Myers Squibb's payout ratio is 92.88%.

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.