Cantor Fitzgerald Reiterates "Neutral" Rating for Bristol-Myers Squibb (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY - Get Free Report)'s stock had its "neutral" rating reissued by investment analysts at Cantor Fitzgerald in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $55.00 price target on the biopharmaceutical company's stock. Cantor Fitzgerald's price target would indicate a potential upside of 14.92% from the company's current price. Cantor Fitzgerald also issued estimates for Bristol-Myers Squibb's FY2025 earnings at $6.81 EPS.

A number of other equities research analysts have also recently commented on BMY. Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Piper Sandler assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target for the company. UBS Group lowered their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Truist Financial boosted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded down $0.83 during trading hours on Tuesday, reaching $47.86. 16,292,011 shares of the company traded hands, compared to its average volume of 12,928,300. The firm has a 50-day moving average price of $56.37 and a 200 day moving average price of $56.50. The company has a market cap of $97.38 billion, a P/E ratio of -10.83, a P/E/G ratio of 2.07 and a beta of 0.41. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. The business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. During the same period in the prior year, the business posted ($4.40) earnings per share. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BMY. Morse Asset Management Inc lifted its position in shares of Bristol-Myers Squibb by 25.0% in the 3rd quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company's stock worth $517,000 after purchasing an additional 2,000 shares during the period. Tudor Financial Inc. purchased a new stake in Bristol-Myers Squibb during the third quarter worth $250,000. Pine Valley Investments Ltd Liability Co boosted its position in Bristol-Myers Squibb by 1.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 44,897 shares of the biopharmaceutical company's stock valued at $2,323,000 after acquiring an additional 575 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 18.7% in the 3rd quarter. World Investment Advisors LLC now owns 44,106 shares of the biopharmaceutical company's stock valued at $2,282,000 after acquiring an additional 6,954 shares during the period. Finally, Arvest Bank Trust Division bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth $1,724,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.