Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $65.00 at Citigroup

Bristol-Myers Squibb (NYSE:BMY - Free Report) had its price objective increased by Citigroup from $60.00 to $65.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the biopharmaceutical company's stock.

A number of other brokerages have also issued reports on BMY. Daiwa Capital Markets raised Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 13th. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a "hold" rating in a report on Monday, October 7th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Truist Financial raised their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, UBS Group boosted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of "Hold" and a consensus price target of $56.60.

Bristol-Myers Squibb Stock Down 0.4 %

NYSE:BMY traded down $0.22 on Tuesday, reaching $58.92. The stock had a trading volume of 4,586,346 shares, compared to its average volume of 9,387,732. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The stock has a market cap of $119.51 billion, a P/E ratio of -16.41, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The company has a 50-day moving average of $57.60 and a 200 day moving average of $53.06.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the business posted $2.00 EPS. Bristol-Myers Squibb's quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. Bristol-Myers Squibb's dividend payout ratio (DPR) is -69.08%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the firm's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company's stock.

Institutional Trading of Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb during the third quarter valued at about $25,000. Hollencrest Capital Management lifted its position in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb during the third quarter worth $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $29,000. Finally, Valued Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 549 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.