BMO Capital Markets Trims Bristol-Myers Squibb (NYSE:BMY) Target Price to $48.00

Bristol-Myers Squibb (NYSE:BMY - Free Report) had its target price trimmed by BMO Capital Markets from $55.00 to $48.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a market perform rating on the biopharmaceutical company's stock.

BMY has been the subject of several other reports. Societe Generale downgraded shares of Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. William Blair restated a market perform rating on shares of Bristol-Myers Squibb in a 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, April 15th. Bank of America downgraded Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their price objective for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Barclays decreased their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating for the company in a report on Friday. One research 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 MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

NYSE BMY traded up $0.16 on Friday, hitting $44.86. 21,279,666 shares of the company's stock were exchanged, compared to its average volume of 15,968,238. The stock has a 50-day moving average of $51.03 and a 200-day moving average of $51.18. The stock has a market cap of $90.92 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 1.47 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 52 week low of $44.34 and a 52 week high of $69.10.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 earnings per share. Analysts expect that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.35%. Bristol-Myers Squibb's payout ratio is 62.18%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. lifted its position in Bristol-Myers Squibb by 532.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company's stock valued at $96,000 after acquiring an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. increased its position in shares of Bristol-Myers Squibb by 1.0% during the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company's stock valued at $1,542,000 after acquiring an additional 296 shares during the last quarter. Herold Advisors Inc. lifted its holdings in Bristol-Myers Squibb by 3.2% during the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company's stock worth $1,954,000 after acquiring an additional 1,051 shares during the period. Kestra Private Wealth Services LLC boosted its position in Bristol-Myers Squibb by 9.5% in the third quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company's stock worth $8,115,000 after purchasing an additional 12,121 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in Bristol-Myers Squibb by 14.8% in the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company's stock valued at $5,907,000 after purchasing an additional 13,122 shares during the period. Institutional investors own 76.41% of the company's stock.

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.