Bristol-Myers Squibb’s (BMY) “Neutral” Rating Reiterated at Cantor Fitzgerald

by · The Markets Daily

Cantor Fitzgerald reissued their neutral rating on shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) in a research note released on Monday, Benzinga reports. The firm currently has a $50.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also recently weighed in on the company. Barclays increased their price objective 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a hold rating for the company in a research note on Tuesday, July 23rd. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a hold rating in a research report on Monday, August 12th. StockNews.com upgraded shares of Bristol-Myers Squibb from a buy rating to a strong-buy rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group increased their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a hold rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $55.00.

View Our Latest Research Report on BMY

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $49.74 on Monday. The firm’s fifty day moving average price is $47.34 and its two-hundred day moving average price is $46.48. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The company has a market cap of $100.83 billion, a P/E ratio of -16.05, a P/E/G ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $59.46.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued 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 negative net margin of 14.06% and a positive return on equity of 12.51%. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period last year, the business posted $1.75 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Gryphon Financial Partners LLC boosted its stake in shares of Bristol-Myers Squibb by 23.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 995 shares in the last quarter. Gladstone Institutional Advisory LLC increased its position in Bristol-Myers Squibb by 19.8% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 62,786 shares of the biopharmaceutical company’s stock valued at $3,222,000 after acquiring an additional 10,373 shares during the period. Thoroughbred Financial Services LLC lifted its holdings in shares of Bristol-Myers Squibb by 4.8% during the fourth quarter. Thoroughbred Financial Services LLC now owns 23,095 shares of the biopharmaceutical company’s stock worth $1,185,000 after purchasing an additional 1,065 shares during the period. Clearbridge Investments LLC increased its stake in shares of Bristol-Myers Squibb by 12.0% in the fourth quarter. Clearbridge Investments LLC now owns 125,980 shares of the biopharmaceutical company’s stock valued at $6,464,000 after buying an additional 13,534 shares during the period. Finally, Sachetta LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $57,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

(Get Free Report)

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.

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