BMO Capital Markets Boosts Bristol-Myers Squibb (NYSE:BMY) Price Target to $61.00

Bristol-Myers Squibb (NYSE:BMY) had its price objective hoisted by stock analysts at BMO Capital Markets from $57.00 to $61.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 2.23% from the stock’s previous close.

Several other equities analysts also recently weighed in on BMY. Barclays raised their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. UBS Group upped their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $53.71.

Bristol-Myers Squibb Trading Down 0.3 %

Shares of BMY traded down $0.15 during trading hours on Tuesday, reaching $59.67. 3,769,166 shares of the company traded hands, compared to its average volume of 14,408,628. The firm has a market cap of $121.02 billion, a price-to-earnings ratio of -16.64, a PEG ratio of 20.09 and a beta of 0.44. The stock’s fifty day moving average price is $52.07 and its 200 day moving average price is $46.89. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 EPS. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently modified their holdings of the stock. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth about $25,000. Hollencrest Capital Management raised its position in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $27,000. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $28,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at approximately $29,000. 76.41% of the stock is 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.