Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $39.00 at Morgan Stanley

Bristol-Myers Squibb (NYSE:BMY) had its target price upped by analysts at Morgan Stanley from $36.00 to $39.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s target price suggests a potential downside of 34.80% from the company’s current price.

Several other brokerages have also issued reports on BMY. BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Citigroup downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut 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 upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Barclays boosted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.43.

Bristol-Myers Squibb Trading Up 10.5 %

BMY opened at $59.82 on Tuesday. The firm’s fifty day moving average is $52.07 and its two-hundred day moving average is $46.89. The firm has a market cap of $121.33 billion, a PE ratio of -16.66, a price-to-earnings-growth ratio of 20.09 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the business posted $2.00 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was 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 owned by company insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors increased its position 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 worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. Primecap Management Co. CA grew its stake in Bristol-Myers Squibb by 1.0% during the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after buying an additional 225,197 shares in the last quarter. Legal & General Group Plc raised its position in shares of Bristol-Myers Squibb by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after buying an additional 735,613 shares in the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after acquiring an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC boosted its position in shares of Bristol-Myers Squibb by 0.5% during the 3rd quarter. Pzena Investment Management LLC now owns 14,201,746 shares of the biopharmaceutical company’s stock worth $734,798,000 after acquiring an additional 67,409 shares in the last quarter. 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.