Bristol-Myers Squibb (NYSE:BMY) Given New $65.00 Price Target at Truist Financial

Bristol-Myers Squibb (NYSE:BMY) had its price target lifted by Truist Financial from $62.00 to $65.00 in a research note released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on the stock. Morgan Stanley raised their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. BMO Capital Markets boosted their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Price Performance

BMY stock opened at $56.75 on Wednesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a 50 day moving average price of $57.39 and a 200-day moving average price of $51.30. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The firm has a market capitalization of $115.10 billion, a price-to-earnings ratio of -15.81, a PEG ratio of 15.20 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the previous year, the business earned $2.00 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.37%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meridian Management Co. boosted its holdings in Bristol-Myers Squibb by 0.6% in the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after acquiring an additional 182 shares during the last quarter. Hollencrest Capital Management raised its holdings in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the period. Dunhill Financial LLC lifted its stake in shares of Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 189 shares in the last quarter. Mayflower Financial Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 2.3% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 192 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its position in Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

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.