Bristol-Myers Squibb (BMY) Given a $58.00 Price Target at Credit Suisse Group

Credit Suisse Group set a $58.00 target price on Bristol-Myers Squibb (NYSE:BMY) in a research note released on Tuesday morning. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. Bank of America lowered their target price on shares of Bristol-Myers Squibb from $68.00 to $61.00 and set a neutral rating on the stock in a report on Tuesday. Jefferies Group reaffirmed a hold rating and issued a $66.00 target price on shares of Bristol-Myers Squibb in a report on Friday, April 13th. Vetr lowered shares of Bristol-Myers Squibb from a hold rating to a sell rating and set a $60.72 target price on the stock. in a report on Thursday, February 8th. BMO Capital Markets lowered their target price on shares of Bristol-Myers Squibb from $52.00 to $51.00 and set an underperform rating on the stock in a report on Tuesday, February 6th. Finally, Leerink Swann upped their target price on shares of Bristol-Myers Squibb from $71.00 to $76.00 and gave the stock a positive rating in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $64.73.

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Shares of Bristol-Myers Squibb stock opened at $52.38 on Tuesday. The firm has a market capitalization of $88,290.09, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.43 and a current ratio of 1.55. Bristol-Myers Squibb has a 52-week low of $51.56 and a 52-week high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 35.43%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. analysts expect that Bristol-Myers Squibb will post 3.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Friday, April 6th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, April 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 53.16%.

Large investors have recently modified their holdings of the business. Keel Point LLC lifted its position in Bristol-Myers Squibb by 0.6% during the 2nd quarter. Keel Point LLC now owns 6,325 shares of the biopharmaceutical company’s stock valued at $352,000 after purchasing an additional 39 shares during the period. Intellectus Partners LLC lifted its position in Bristol-Myers Squibb by 2.1% during the 2nd quarter. Intellectus Partners LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 80 shares during the period. Verition Fund Management LLC lifted its position in Bristol-Myers Squibb by 1.0% during the 2nd quarter. Verition Fund Management LLC now owns 8,190 shares of the biopharmaceutical company’s stock valued at $456,000 after purchasing an additional 80 shares during the period. Balentine LLC lifted its position in Bristol-Myers Squibb by 2.1% during the 2nd quarter. Balentine LLC now owns 12,736 shares of the biopharmaceutical company’s stock valued at $710,000 after purchasing an additional 267 shares during the period. Finally, Segment Wealth Management LLC lifted its position in Bristol-Myers Squibb by 4.2% during the 2nd quarter. Segment Wealth Management LLC now owns 6,818 shares of the biopharmaceutical company’s stock valued at $380,000 after purchasing an additional 274 shares during the period. 71.51% of the stock is currently owned by hedge funds and other institutional investors.

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Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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