BMO Capital Markets Lowers Bristol-Myers Squibb (NYSE:BMY) Price Target to $48.00

Bristol-Myers Squibb (NYSE:BMY) had its price target lowered by research analysts at BMO Capital Markets from $55.00 to $48.00 in a report issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 6.48% from the stock’s current price.

Several other research firms have also issued reports on BMY. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Barclays cut their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. 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, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Price Performance

BMY stock traded up $0.38 during midday trading on Friday, reaching $45.08. 10,374,140 shares of the company’s stock traded hands, compared to its average volume of 15,829,931. The company has a 50-day simple moving average of $51.13 and a two-hundred day simple moving average of $51.26. Bristol-Myers Squibb has a 1-year low of $44.34 and a 1-year high of $69.10. The company has a market cap of $91.37 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.47 and a beta of 0.39. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $2.05 EPS. On average, analysts anticipate that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vicus Capital increased its stake in Bristol-Myers Squibb by 3.9% during the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 179 shares in the last quarter. Lindbrook Capital LLC increased its stake in Bristol-Myers Squibb by 2.3% during the 3rd quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 182 shares in the last quarter. Addison Advisors LLC increased its stake in Bristol-Myers Squibb by 6.6% during the 3rd quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 192 shares in the last quarter. Symphony Financial Ltd. Co. increased its stake in Bristol-Myers Squibb by 4.1% during the 3rd quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock valued at $288,000 after purchasing an additional 194 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds 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.