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Analysts at Argus upped their target price on shares of Bristol-Myers Squibb (NYSE:BMY) from $58.00 to $62.00 in a research report issued to clients and investors on Wednesday, ARN reports. The firm currently has a “buy” rating on the stock. Argus’ target price points to a potential upside of 11.35% from the stock’s previous close.

Shares of Bristol-Myers Squibb (NYSE:BMY) traded down 1.17% on Wednesday, hitting $55.03. The stock had a trading volume of 3,006,555 shares. Bristol-Myers Squibb has a 1-year low of $34.10 and a 1-year high of $56.83. The stock’s 50-day moving average is $52.48 and its 200-day moving average is $47.85. The company has a market cap of $90.609 billion and a P/E ratio of 33.42. Bristol-Myers Squibb also saw unusually large options trading on Tuesday. Stock investors bought 20,801 put options on the stock. This represents an increase of 280% compared to the average daily volume of 5,479 put options.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings data on Wednesday, October 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the company posted $0.41 earnings per share. Bristol-Myers Squibb’s revenue was up 8.8% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb will post $1.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Monday, February 3rd. Stockholders of record on Friday, January 3rd will be paid a dividend of 0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Tuesday, December 31st. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.35.

A number of other firms have also recently commented on BMY. Analysts at Barclays upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating in a research note to investors on Friday, January 10th. They now have a $65.00 price target on the stock, up previously from $52.00. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research note to investors on Thursday, January 9th. Finally, analysts at Jefferies Group raised their price target on shares of Bristol-Myers Squibb from $48.00 to $50.00 in a research note to investors on Thursday, January 9th. They now have a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Bristol-Myers Squibb has a consensus rating of “Buy” and a consensus price target of $53.43.

Bristol-Myers Squibb Company (NYSE:BMY) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products on a global basis.

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