Piper Sandler Initiates Coverage on Bristol-Myers Squibb (NYSE:BMY)

Piper Sandler assumed coverage on shares of Bristol-Myers Squibb (NYSE:BMY) in a report released on Tuesday, Marketbeat reports. The brokerage issued an overweight rating and a $65.00 price objective on the biopharmaceutical company’s stock.

BMY has been the topic of a number of other research reports. Cantor Fitzgerald boosted their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. UBS Group reduced their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Citigroup boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.00.

Bristol-Myers Squibb Stock Up 0.3 %

Shares of NYSE BMY opened at $48.66 on Tuesday. The stock has a 50-day moving average price of $56.50 and a two-hundred day moving average price of $56.50. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a market cap of $99.01 billion, a price-to-earnings ratio of -11.01, a PEG ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.55 by $0.25. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. During the same quarter in the prior year, the firm earned ($4.40) EPS. As a group, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.10%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMY. Morse Asset Management Inc increased its holdings in shares of Bristol-Myers Squibb by 25.0% during the third quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company’s stock valued at $517,000 after acquiring an additional 2,000 shares in the last quarter. Tudor Financial Inc. acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $250,000. Pine Valley Investments Ltd Liability Co raised its holdings in Bristol-Myers Squibb by 1.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 44,897 shares of the biopharmaceutical company’s stock worth $2,323,000 after buying an additional 575 shares during the last quarter. World Investment Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 18.7% in the third quarter. World Investment Advisors LLC now owns 44,106 shares of the biopharmaceutical company’s stock valued at $2,282,000 after buying an additional 6,954 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new position in shares of Bristol-Myers Squibb during the third quarter valued at about $1,724,000. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.