Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $39.00 at Morgan Stanley

Bristol-Myers Squibb (NYSE:BMY) had its price target lifted by equities research analysts at Morgan Stanley from $36.00 to $39.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 33.25% from the stock’s current price.

A number of other research firms also recently commented on BMY. Jefferies Financial Group lifted 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. TD Cowen lifted 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. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $73.00 in a research report on Tuesday. UBS Group lifted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $75.00 to $55.00 in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Trading Down 1.0 %

BMY stock opened at $58.43 on Tuesday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market capitalization of $118.51 billion, a price-to-earnings ratio of -16.28, a PEG ratio of 21.34 and a beta of 0.44. The business has a 50 day simple moving average of $52.24 and a two-hundred day simple moving average of $46.99.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.00 earnings per share. Research analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently modified their holdings of the stock. Meridian Management Co. raised its position 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 worth $1,463,000 after acquiring an additional 182 shares during the period. Hollencrest Capital Management increased its stake in shares of Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares in the last quarter. Mayflower Financial Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 2.3% in the third 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 in the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Bristol-Myers Squibb by 3.8% in the third 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. Finally, Legacy Wealth Asset Management LLC grew its stake in Bristol-Myers Squibb by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after acquiring an additional 215 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

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.