Credit Suisse Group Analysts Give Bristol-Myers Squibb Company (BMY) a $58.00 Price Target
Bristol-Myers Squibb Company (NYSE:BMY) has been given a $58.00 price target by research analysts at Credit Suisse Group in a report released on Wednesday. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 0.22% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on BMY. Jefferies Group LLC reaffirmed a “buy” rating and set a $64.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, June 5th. Vetr cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $59.88 target price for the company. in a research report on Monday, April 24th. BidaskClub raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. Finally, Cowen and Company set a $65.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $62.12.
Bristol-Myers Squibb (BMY) opened at 57.87 on Wednesday. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $60.45. The firm’s 50-day moving average is $55.86 and its 200-day moving average is $54.87. The firm has a market capitalization of $94.90 billion, a PE ratio of 21.14 and a beta of 1.17.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb will post $2.97 EPS for the current year.
In other news, Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Beacon Capital Management boosted its position in shares of Bristol-Myers Squibb by 400.0% in the fourth quarter. Beacon Capital Management now owns 5 shares of the biopharmaceutical company’s stock valued at $0 after buying an additional 4 shares during the period. American National Bank boosted its position in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares during the period. Tradewinds Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 34.6% in the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 500 shares during the period. Penserra Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 95.3% in the third quarter. Penserra Capital Management LLC now owns 1,959 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 956 shares during the period. Finally, First New York Securities LLC NY purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $108,000. 69.68% of the stock is owned by hedge funds and other institutional investors.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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