Bristol-Myers Squibb (BMY) PT Set at $72.00 by Citigroup
Bristol-Myers Squibb (NYSE:BMY) received a $72.00 target price from equities researchers at Citigroup in a report released on Tuesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s price target points to a potential upside of 15.26% from the company’s current price.
A number of other research firms have also commented on BMY. Barclays lifted their target price on Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, October 13th. Jefferies Group lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a report on Monday, October 16th. BMO Capital Markets set a $49.00 price objective on Bristol-Myers Squibb and gave the stock a “sell” rating in a report on Thursday, October 12th. Leerink Swann lifted their price objective on Bristol-Myers Squibb from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Finally, Vetr raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $67.92 price objective for the company in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $64.93.
Bristol-Myers Squibb (BMY) traded down $0.77 during trading on Tuesday, hitting $62.47. The company’s stock had a trading volume of 4,893,800 shares, compared to its average volume of 8,468,354. The company has a market cap of $102,310.00, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 2.40 and a beta of 1.17. Bristol-Myers Squibb has a twelve month low of $46.01 and a twelve month high of $66.10. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.47.
In other news, SVP Joseph C. Caldarella sold 9,340 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the transaction, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.23% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Bristol-Myers Squibb by 0.3% during the second quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after buying an additional 333,685 shares during the period. BlackRock Inc. lifted its holdings in shares of Bristol-Myers Squibb by 2.4% during the 2nd quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock valued at $5,541,612,000 after purchasing an additional 2,367,864 shares during the last quarter. State Street Corp lifted its holdings in shares of Bristol-Myers Squibb by 1.8% during the 1st quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after purchasing an additional 1,223,457 shares during the last quarter. Dodge & Cox lifted its holdings in shares of Bristol-Myers Squibb by 1.6% during the 2nd quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock valued at $1,648,168,000 after purchasing an additional 459,271 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Bristol-Myers Squibb by 16.2% during the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock valued at $1,711,689,000 after purchasing an additional 3,735,453 shares during the last quarter. 69.82% of the stock is currently owned by hedge funds and other institutional investors.
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About Bristol-Myers Squibb
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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