Barclays Trims Bristol-Myers Squibb (NYSE:BMY) Target Price to $43.00

Bristol-Myers Squibb (NYSE:BMY) had its price objective decreased by Barclays from $51.00 to $43.00 in a report released on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on BMY. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a research report on Thursday, April 18th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. William Blair reissued a market perform rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Societe Generale cut Bristol-Myers Squibb from a buy rating to a hold rating in a research report on Monday, March 11th. Finally, Bank of America cut Bristol-Myers Squibb from a buy rating to a neutral rating and reduced their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $44.65 on Friday. Bristol-Myers Squibb has a 12 month low of $44.34 and a 12 month high of $69.10. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The firm has a market capitalization of $90.51 billion, a PE ratio of -14.40, a price-to-earnings-growth ratio of 15.47 and a beta of 0.39. The business’s fifty day moving average price is $50.93 and its 200 day moving average price is $51.02.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 EPS. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in Bristol-Myers Squibb in the third quarter valued at $25,000. Milestone Investment Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $27,000. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $27,000. Blue Bell Private Wealth Management LLC boosted its holdings in Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Finally, Accordant Advisory Group Inc acquired a new position in Bristol-Myers Squibb during the first quarter worth about $31,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.