Jefferies Financial Group Boosts Bristol-Myers Squibb (NYSE:BMY) Price Target to $51.00

Bristol-Myers Squibb (NYSE:BMY) had its target price hoisted by Jefferies Financial Group from $49.00 to $51.00 in a research note issued to investors on Wednesday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on BMY. Cantor Fitzgerald restated a neutral rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a hold rating in a research note on Monday, August 12th. StockNews.com upgraded Bristol-Myers Squibb from a buy rating to a strong-buy rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating for the company in a research report on Tuesday, July 23rd. Finally, Barclays lifted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an underweight rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of Hold and a consensus price target of $54.67.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $49.95 on Wednesday. The company has a market cap of $101.25 billion, a P/E ratio of -16.11, a PEG ratio of 12.51 and a beta of 0.44. The firm has a fifty day moving average price of $45.01 and a 200 day moving average price of $46.59. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.03.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the prior year, the firm posted $1.75 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.80%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Trading of Bristol-Myers Squibb

A number of institutional investors have recently modified their holdings of BMY. Traynor Capital Management Inc. lifted its holdings in Bristol-Myers Squibb by 2.8% in the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 207 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in Bristol-Myers Squibb by 12.8% during the first quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 216 shares in the last quarter. Bfsg LLC grew its position in Bristol-Myers Squibb by 24.4% during the first quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 220 shares during the period. Paragon Capital Management LLC increased its holdings in Bristol-Myers Squibb by 1.1% in the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after buying an additional 222 shares in the last quarter. Finally, OmniStar Financial Group Inc. boosted its stake in shares of Bristol-Myers Squibb by 1.7% during the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after acquiring an additional 224 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

About Bristol-Myers Squibb

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.