Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $52.00

Bristol-Myers Squibb (NYSE:BMY - Free Report) had its target price upped by Wells Fargo & Company from $51.00 to $52.00 in a report published on Thursday, Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company's stock.

BMY has been the topic of a number of other reports. Societe Generale lowered shares of Bristol-Myers Squibb from a buy rating to a hold rating in a research report on Monday, March 11th. Bank of America lowered Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their target price for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. William Blair reissued a market perform rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com downgraded Bristol-Myers Squibb from a strong-buy rating to a buy rating in a report on Monday. Finally, Redburn Atlantic cut shares of Bristol-Myers Squibb from a buy rating to a neutral rating and dropped their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $61.18.

Bristol-Myers Squibb Trading Up 1.0 %

Shares of NYSE:BMY traded up $0.46 during trading hours on Thursday, hitting $48.30. 10,908,240 shares of the company's stock traded hands, compared to its average volume of 15,781,828. The firm has a market capitalization of $97.89 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.49 and a beta of 0.39. The business has a fifty day moving average price of $51.25 and a 200-day moving average price of $51.57. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.15. The company had revenue of $11.48 billion during the quarter, compared to analysts' expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. Bristol-Myers Squibb's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.82 EPS. Equities analysts expect that Bristol-Myers Squibb will post 6.47 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.97%. Bristol-Myers Squibb's dividend payout ratio is currently 62.18%.

Institutional Trading of Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMY. Riversedge Advisors LLC grew its holdings in Bristol-Myers Squibb by 3.2% during the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company's stock worth $330,000 after acquiring an additional 178 shares during the period. Vicus Capital grew its stake in shares of Bristol-Myers Squibb by 3.9% during the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company's stock worth $280,000 after purchasing an additional 179 shares during the period. Cassia Capital Partners LLC lifted its stake in shares of Bristol-Myers Squibb by 2.3% in the 3rd quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company's stock valued at $460,000 after purchasing an additional 182 shares during the period. Lindbrook Capital LLC grew its position in Bristol-Myers Squibb by 2.3% during the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company's stock valued at $468,000 after buying an additional 182 shares during the period. Finally, Front Row Advisors LLC raised its position in shares of Bristol-Myers Squibb by 17.5% in the fourth quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company's stock worth $88,000 after acquiring an additional 182 shares during the period. 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.