Bristol-Myers Squibb (BMY) Given a $49.00 Price Target at BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY) has been assigned a $49.00 target price by analysts at BMO Capital Markets in a research note issued on Monday. The brokerage currently has a “sell” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price target indicates a potential downside of 21.50% from the stock’s current price.

A number of other analysts have also recently weighed in on BMY. Citigroup set a $72.00 price target on Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Jefferies Group reiterated a “buy” rating and set a $72.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, September 27th. Vetr cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $63.67 price target on the stock. in a research report on Thursday, September 28th. Cowen set a $65.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, August 14th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $60.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $64.93.

Shares of Bristol-Myers Squibb (NYSE:BMY) traded up $0.58 during midday trading on Monday, reaching $62.42. The company’s stock had a trading volume of 5,309,900 shares, compared to its average volume of 8,409,975. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $66.10. The firm has a market capitalization of $102,146.62, a PE ratio of 21.08, a P/E/G ratio of 2.37 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. research analysts anticipate that Bristol-Myers Squibb will post 2.99 EPS for the current fiscal year.

In other news, EVP Sandra Leung sold 156,582 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the sale, the executive vice president now directly owns 584,373 shares of the company’s stock, valued at approximately $37,031,717.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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. increased its position 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 last quarter. BlackRock Inc. increased its position in Bristol-Myers Squibb by 2.4% during the second quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after buying an additional 2,367,864 shares during the last quarter. State Street Corp increased its position in Bristol-Myers Squibb by 1.8% during the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock worth $3,746,446,000 after buying an additional 1,223,457 shares during the last quarter. Dodge & Cox increased its position in Bristol-Myers Squibb by 1.6% during the second quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after buying an additional 459,271 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Bristol-Myers Squibb by 16.2% during the third quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after buying an additional 3,735,453 shares during the last quarter. Institutional investors own 69.82% of the company’s stock.

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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.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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