Bristol-Myers Squibb (NYSE:BMY) Earns Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $45.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Bristol-Myers Squibb’s FY2024 earnings at $0.55 EPS.

A number of other brokerages also recently weighed in on BMY. BMO Capital Markets lowered their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a research report on Friday, April 26th. StockNews.com downgraded shares of Bristol-Myers Squibb from a strong-buy rating to a buy rating in a research report on Thursday, June 27th. Barclays lowered their price objective on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a research report on Thursday, April 18th. Finally, William Blair reaffirmed a market perform rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $57.73.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $45.27 on Monday. The firm has a market cap of $91.77 billion, a PE ratio of -14.60, a price-to-earnings-growth ratio of 15.94 and a beta of 0.44. The firm’s 50-day simple moving average is $41.63 and its 200-day simple moving average is $46.83. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.89.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 EPS. Equities analysts forecast that Bristol-Myers Squibb will post 0.54 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.30%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors boosted 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 acquiring an additional 8,675,322 shares in the last quarter. Norges Bank bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $1,560,524,000. Primecap Management Co. CA boosted its holdings in shares of Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after acquiring an additional 2,998,228 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bristol-Myers Squibb by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after acquiring an additional 1,246,066 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

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.