Bristol Myers Squibb (NYSE:BMY) Trading Up 1.9% After Analyst Upgrade

Bristol Myers Squibb Company (NYSE:BMY) shares were up 1.9% during trading on Wednesday after Leerink Partners raised their price target on the stock from $54.00 to $60.00. Leerink Partners currently has an outperform rating on the stock. Bristol Myers Squibb traded as high as $57.04 and last traded at $56.9750. Approximately 13,345,887 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 12,388,765 shares. The stock had previously closed at $55.92.

BMY has been the subject of several other research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $57.00 price objective (up previously from $51.00) on shares of Bristol Myers Squibb in a research report on Tuesday, December 2nd. Bank of America upgraded shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and upped their price target for the company from $52.00 to $61.00 in a report on Monday, December 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Wells Fargo & Company boosted their price objective on shares of Bristol Myers Squibb from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Finally, UBS Group upgraded shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $65.00 in a report on Wednesday, January 7th. Seven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.86.

Institutional Trading of Bristol Myers Squibb

Several institutional investors and hedge funds have recently bought and sold shares of BMY. Darwin Wealth Management LLC purchased a new position in shares of Bristol Myers Squibb in the second quarter valued at about $25,000. Trifecta Capital Advisors LLC bought a new stake in Bristol Myers Squibb during the 2nd quarter valued at approximately $25,000. Harbor Capital Advisors Inc. lifted its holdings in Bristol Myers Squibb by 107.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 313 shares in the last quarter. REAP Financial Group LLC boosted its stake in Bristol Myers Squibb by 202.8% in the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 428 shares during the period. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in Bristol Myers Squibb during the 3rd quarter valued at approximately $35,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

The firm’s 50-day moving average price is $51.74 and its 200-day moving average price is $48.06. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. The stock has a market cap of $115.22 billion, a P/E ratio of 19.12, a PEG ratio of 9.44 and a beta of 0.29.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. Bristol Myers Squibb’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be given a dividend of $0.63 per share. The ex-dividend date is Friday, January 2nd. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.5%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 85.14%.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.