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Research analysts at MKM Partners upped their price objective on shares of Bristol-Myers Squibb (NYSE:BMY) from $29.00 to $34.00 in a report released on Friday. The firm currently has a “sell” rating on the stock. MKM Partners’ target price would indicate a potential downside of 31.16% from the stock’s previous close.

Shares of Bristol-Myers Squibb (NYSE:BMY) traded down 0.14% on Friday, hitting $49.39. The stock had a trading volume of 5,872,244 shares. 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 $48.26 and a 200-day moving average of $50.85. The company has a market cap of $81.848 billion and a price-to-earnings ratio of 28.59. Bristol-Myers Squibb also was the recipient of unusually large options trading on Thursday. Investors acquired 12,080 put options on the company. This represents an increase of approximately 205% compared to the average volume of 3,963 put options.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings data on Thursday, July 24th. The company reported $0.48 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.04. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter last year, the company posted $0.44 earnings per share. Bristol-Myers Squibb’s revenue was down 3.9% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb will post $1.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, July 1st.

Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Bristol-Myers Squibb from $42.00 to $43.50 in a research note on Monday, July 14th. They now have a “hold” rating on the stock. Separately, analysts at Leerink Swann cut their price target on shares of Bristol-Myers Squibb from $62.00 to $55.00 in a research note on Tuesday, July 8th. Finally, analysts at Barclays downgraded shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 2nd. They now have a $46.00 price target on the stock, down previously from $65.00. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $51.29.

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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