Barclays Lowers Bristol-Myers Squibb (NYSE:BMY) Price Target to $43.00

Bristol-Myers Squibb (NYSE:BMY) had its price target dropped by equities research analysts at Barclays from $51.00 to $43.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays‘s price objective would indicate a potential downside of 4.78% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.71.

Bristol-Myers Squibb Trading Up 1.0 %

Shares of NYSE:BMY traded up $0.46 during trading on Friday, reaching $45.16. 4,362,311 shares of the company were exchanged, compared to its average volume of 15,750,341. The firm has a market capitalization of $91.53 billion, a PE ratio of 11.70, a P/E/G ratio of 1.47 and a beta of 0.39. The business’s fifty day simple moving average is $51.13 and its 200-day simple moving average is $51.26. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. Bristol-Myers Squibb has a 12-month low of $44.34 and a 12-month high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same period last year, the firm earned $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Institutional Trading of Bristol-Myers Squibb

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at about $25,000. Milestone Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at about $27,000. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $27,000. Blue Bell Private Wealth Management LLC raised its position in Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Finally, Accordant Advisory Group Inc acquired a new position in Bristol-Myers Squibb during the first quarter worth about $31,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.