Citigroup Issues Positive Forecast for Bristol-Myers Squibb (NYSE:BMY) Stock Price

Bristol-Myers Squibb (NYSE:BMY) had its price objective hoisted by Citigroup from $55.00 to $60.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of 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. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Morgan Stanley increased their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday. BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Sanford C. Bernstein started 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 for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Stock Down 3.9 %

Bristol-Myers Squibb stock opened at $56.22 on Tuesday. The company has a 50 day moving average of $52.58 and a 200-day moving average of $47.15. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The stock has a market capitalization of $114.02 billion, a PE ratio of -15.81, a price-to-earnings-growth ratio of 15.83 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate 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 business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.27%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC lifted its position in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares in the last quarter. Graypoint LLC raised its position in shares of Bristol-Myers Squibb by 29.4% during the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after buying an additional 2,563 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Bristol-Myers Squibb by 8.8% during the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after purchasing an additional 25,543 shares during the last quarter. Plato Investment Management Ltd boosted its stake in Bristol-Myers Squibb by 25.4% during the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after buying an additional 21,041 shares during the last quarter. Finally, Meritage Portfolio Management increased its position in Bristol-Myers Squibb by 1,874.9% in the third quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company’s stock worth $5,602,000 after purchasing an additional 102,782 shares during the last quarter. Institutional investors 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.