Cantor Fitzgerald Reiterates “Neutral” Rating for Bristol-Myers Squibb (NYSE:BMY)

Cantor Fitzgerald reiterated their neutral rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $50.00 price objective on the biopharmaceutical company’s stock.

BMY has been the topic of a number of other reports. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research report on Thursday. They issued a “market perform” rating and a $56.00 price target on the stock. BMO Capital Markets restated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. TD Cowen increased their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft decreased their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $53.22 on Friday. The business’s fifty day moving average price is $50.36 and its two-hundred day moving average price is $46.33. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $57.09. The stock has a market capitalization of $107.88 billion, a price-to-earnings ratio of -17.17, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds have recently modified their holdings of the business. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC raised its position in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $34,000. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth about $39,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth about $42,000. Institutional investors and hedge funds 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.