Bristol Myers Squibb (NYSE:BMY) Given New $78.00 Price Target at Piper Sandler

Bristol Myers Squibb (NYSE:BMY) had its target price decreased by equities researchers at Piper Sandler from $82.00 to $78.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler‘s target price would suggest a potential upside of 26.67% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Roth Capital assumed coverage on shares of Bristol Myers Squibb in a research note on Wednesday, August 5th. They set a “buy” rating and a $75.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Bristol Myers Squibb from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. HSBC reaffirmed a “hold” rating and set a $65.00 price target (up from $60.00) on shares of Bristol Myers Squibb in a research report on Thursday, September 10th. Leerink Partners downgraded Bristol Myers Squibb from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $73.00 to $59.00 in a research note on Monday, October 5th. Finally, Daiwa Securities Group increased their price objective on Bristol Myers Squibb from $53.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.50.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $61.58 on Monday. The company has a 50 day moving average price of $63.26 and a 200 day moving average price of $60.34. The firm has a market capitalization of $125.79 billion, a P/E ratio of 13.56, a PEG ratio of 0.31 and a beta of 0.19. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89. Bristol Myers Squibb has a 52 week low of $42.52 and a 52 week high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.44. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The company had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $11.74 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. Bristol Myers Squibb’s revenue was up 5.7% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Sell-side analysts expect that Bristol Myers Squibb will post 6.51 EPS for the current year.

Insider Buying and Selling at Bristol Myers Squibb

In related news, SVP Phil M. Holzer sold 500 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total transaction of $33,750.00. Following the completion of the transaction, the senior vice president owned 16,862 shares of the company’s stock, valued at $1,138,185. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.05% of the stock is owned by insiders.

Institutional Investors Weigh In On Bristol Myers Squibb

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Bristol Myers Squibb by 5.1% during the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after purchasing an additional 8,702,106 shares during the period. State Street Corp raised its stake in shares of Bristol Myers Squibb by 7.3% during the 2nd quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock valued at $6,093,755,000 after buying an additional 7,192,724 shares during the last quarter. Primecap Management Co. CA purchased a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at about $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Bristol Myers Squibb by 0.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company’s stock valued at $1,315,984,000 after buying an additional 119,690 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bristol Myers Squibb by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company’s stock valued at $1,137,847,000 after buying an additional 520,330 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

About Bristol Myers Squibb

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company’s portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.