Bristol Myers Squibb (NYSE:BMY - Free Report) had its price objective cut by Morgan Stanley from $36.00 to $34.00 in a report released on Thursday morning,Benzinga reports. They currently have an underweight rating on the biopharmaceutical company's stock.
A number of other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Piper Sandler initiated coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective for the company. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $57.69.
View Our Latest Analysis on Bristol Myers Squibb
Bristol Myers Squibb Stock Performance
Shares of NYSE BMY traded down $1.61 during midday trading on Thursday, hitting $46.91. 13,670,701 shares of the company's stock were exchanged, compared to its average volume of 12,830,370. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The stock's 50 day moving average price is $47.51 and its 200-day moving average price is $53.22. The firm has a market cap of $95.47 billion, a P/E ratio of 17.57, a PEG ratio of 2.38 and a beta of 0.36. Bristol Myers Squibb has a twelve month low of $39.93 and a twelve month high of $63.33.
Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($4.40) earnings per share. Equities research analysts anticipate that Bristol Myers Squibb will post 6.74 EPS for the current year.
Bristol Myers Squibb Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.
Insider Transactions at Bristol Myers Squibb
In other Bristol Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president owned 83,513 shares of the company's stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company's stock.
Institutional Investors Weigh In On Bristol Myers Squibb
A number of large investors have recently bought and sold shares of the business. Vanguard Capital Wealth Advisors boosted its holdings in Bristol Myers Squibb by 20.3% in the second quarter. Vanguard Capital Wealth Advisors now owns 5,926 shares of the biopharmaceutical company's stock worth $274,000 after purchasing an additional 1,001 shares in the last quarter. Arthur M. Cohen & Associates LLC grew its position in shares of Bristol Myers Squibb by 49.9% in the second quarter. Arthur M. Cohen & Associates LLC now owns 6,010 shares of the biopharmaceutical company's stock valued at $278,000 after purchasing an additional 2,000 shares during the last quarter. Coastwise Capital Group LLC grew its position in shares of Bristol Myers Squibb by 6.6% in the second quarter. Coastwise Capital Group LLC now owns 25,685 shares of the biopharmaceutical company's stock valued at $1,189,000 after purchasing an additional 1,595 shares during the last quarter. Abacus FCF Advisors LLC grew its position in shares of Bristol Myers Squibb by 25.4% in the second quarter. Abacus FCF Advisors LLC now owns 365,410 shares of the biopharmaceutical company's stock valued at $16,915,000 after purchasing an additional 73,911 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in shares of Bristol Myers Squibb by 15,199.0% in the second quarter. Wedge Capital Management L L P NC now owns 614,100 shares of the biopharmaceutical company's stock valued at $28,427,000 after purchasing an additional 610,086 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.
Bristol Myers Squibb Company Profile
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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.
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