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Bristol-Myers Squibb (NYSE:BMY) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $55.00 target price on the stock, down from their previous target price of $60.00. BMO Capital Markets’ price target indicates a potential upside of 5.53% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of Bristol-Myers Squibb to $50.00 in a research note on Wednesday, May 7th. They now have a “hold” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, April 30th. They now have a $52.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.15.

Shares of Bristol-Myers Squibb (NYSE:BMY) traded down 6.73% on Thursday, hitting $48.61. 16,561,461 shares of the company’s stock traded hands. Bristol-Myers Squibb has a 52-week low of $41.11 and a 52-week high of $57.49. The stock has a 50-day moving average of $50.52 and a 200-day moving average of $52.20. The company has a market cap of $80.555 billion and a price-to-earnings ratio of 30.13.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Tuesday, April 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts expect that Bristol-Myers Squibb will post $1.79 EPS for the current fiscal year.

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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