Bristol-Myers Squibb (BMY) PT Lowered to $47.00 at BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY) had its price target cut by BMO Capital Markets from $51.00 to $47.00 in a research report released on Wednesday. They currently have an underperform rating on the biopharmaceutical company’s stock.

Several other research analysts also recently weighed in on the company. Credit Suisse Group set a $58.00 price target on Bristol-Myers Squibb and gave the stock a hold rating in a research note on Tuesday. Bank of America dropped their price target on Bristol-Myers Squibb from $68.00 to $61.00 and set a neutral rating for the company in a research note on Tuesday. William Blair restated an outperform rating on shares of Bristol-Myers Squibb in a research note on Tuesday. Morgan Stanley downgraded Bristol-Myers Squibb from an overweight rating to an equal weight rating and upped their price target for the stock from $54.08 to $58.00 in a research note on Tuesday. Finally, Jefferies Group restated a hold rating and issued a $66.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, April 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $64.23.

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Shares of NYSE:BMY opened at $51.17 on Wednesday. The company has a market cap of $84,257.61, a P/E ratio of 17.00, a P/E/G ratio of 1.39 and a beta of 0.96. The company has a quick ratio of 1.43, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. Bristol-Myers Squibb has a 12-month low of $51.02 and a 12-month high of $70.05.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Friday, April 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.13%. Bristol-Myers Squibb’s dividend payout ratio is currently 53.16%.

Several hedge funds and other institutional investors have recently bought and sold shares of BMY. Advisor Partners LLC raised its holdings in Bristol-Myers Squibb by 6.9% during the 3rd quarter. Advisor Partners LLC now owns 36,961 shares of the biopharmaceutical company’s stock valued at $2,356,000 after buying an additional 2,382 shares during the period. Van ECK Associates Corp raised its holdings in Bristol-Myers Squibb by 0.7% during the 3rd quarter. Van ECK Associates Corp now owns 791,275 shares of the biopharmaceutical company’s stock valued at $50,436,000 after buying an additional 5,451 shares during the period. Aperio Group LLC raised its holdings in Bristol-Myers Squibb by 12.7% during the 3rd quarter. Aperio Group LLC now owns 854,457 shares of the biopharmaceutical company’s stock valued at $54,463,000 after buying an additional 96,561 shares during the period. D.A. Davidson & CO. raised its holdings in Bristol-Myers Squibb by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 205,789 shares of the biopharmaceutical company’s stock valued at $13,117,000 after buying an additional 16,310 shares during the period. Finally, First Interstate Bank raised its holdings in Bristol-Myers Squibb by 6.3% during the 3rd quarter. First Interstate Bank now owns 118,681 shares of the biopharmaceutical company’s stock valued at $7,565,000 after buying an additional 7,030 shares during the period. Hedge funds and other institutional investors own 71.51% of the company’s stock.

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About Bristol-Myers Squibb

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.

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