Bristol-Myers Squibb (NYSE:BMY) Earns “Market Perform” Rating from BMO Capital Markets

BMO Capital Markets reiterated their market perform rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note issued to investors on Monday, Benzinga reports. BMO Capital Markets currently has a $48.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald reaffirmed a neutral rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. StockNews.com raised Bristol-Myers Squibb from a buy rating to a strong-buy rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group boosted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a hold rating in a research note on Wednesday, August 28th. Finally, Barclays increased their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an underweight rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $55.00.

Bristol-Myers Squibb Price Performance

BMY stock opened at $50.12 on Monday. The business’s 50-day moving average is $48.21 and its two-hundred day moving average is $46.38. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The firm has a market capitalization of $101.60 billion, a P/E ratio of -16.17, a P/E/G ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $58.75.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the firm earned $1.75 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.79%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital International Investors increased its holdings in shares of Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. M&G Plc acquired a new position in Bristol-Myers Squibb in the 1st quarter valued at $392,608,000. Pzena Investment Management LLC raised its position in Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after buying an additional 6,701,097 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Bristol-Myers Squibb by 97.2% in the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after acquiring an additional 3,918,234 shares in the last quarter. Hedge funds and other 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.