BMO Capital Markets raises Bristol-Myers Squibb (NYSE:BMY) price target to $94.00

Bristol-Myers Squibb (NYSE: BMY – Get a rating) had its price target raised by BMO Capital Markets from $92.00 to $94.00 in a report on Monday, Fly reports. BMO Capital Markets’ price target would indicate a potential upside of 33.98% from the company’s current price.

Other analysts have also recently released reports on the stock. Bank of America raised its price target on Bristol-Myers Squibb shares from $78.00 to $80.00 and gave the stock a “buy” rating in a Monday, June 6 research note. Wells Fargo & Company raised its price target on Bristol-Myers Squibb shares from $65.00 to $70.00 and gave the company an ‘equal weight’ rating in a Tuesday, May 17 research note . UBS Group raised its price target on Bristol-Myers Squibb shares to $73.00 and gave the company an “outperform” rating in a Wednesday, July 27 research note. JPMorgan Chase & Co. raised its price target on Bristol-Myers Squibb shares from $80.00 to $85.00 in a Thursday, July 28 research note. Finally, Citigroup rephrased a “buy” rating and set a price target of $90.00 on Bristol-Myers Squibb shares in a Friday, June 3 research note. One research analyst rated the stock with a sell rating, four gave the company a hold rating, seven issued a buy rating and one issued a strong buy rating. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Moderate Buy” and a consensus price target of $76.00.

Bristol-Myers Squibb Stock up 1.1%

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Bristol-Myers Squibb shares opened at $70.16 on Monday. The company’s 50-day moving average price is $72.95 and its 200-day moving average price is $73.96. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt ratio of 1.14. Bristol-Myers Squibb has a 52-week low of $53.22 and a 52-week high of $80.59. The company has a market capitalization of $149.81 billion, a P/E ratio of 23.31, a PEG ratio of 1.49 and a beta of 0.43.

Bristol-Myers Squibb (NYSE: BMY – Get a rating) last reported results on Wednesday, July 27. The biopharmaceutical company reported EPS of $1.93 for the quarter, beating analyst consensus estimates of $1.79 by $0.14. The company posted revenue of $11.89 billion in the quarter, compared to $11.50 billion expected by analysts. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. Bristol-Myers Squibb revenue for the quarter increased 1.6% year-on-year. During the same period last year, the company achieved EPS of $1.93. On average, sell-side analysts expect Bristol-Myers Squibb to post EPS of 7.51 for the current fiscal year.

Institutional investors weigh in on Bristol-Myers Squibb

Several institutional investors and hedge funds have recently increased or reduced their stake in BMY. Mizuho Securities Co.Ltd. increased its holdings of Bristol-Myers Squibb shares by 239.0% in the first quarter. Mizuho Securities Co.Ltd. now owns 339 shares of the biopharmaceutical company worth $25,000 after buying 239 more shares last quarter. Spectrum Management Group LLC increased its holdings of Bristol-Myers Squibb shares by 113.1% in the first quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company worth $25,000 after buying 181 additional shares last quarter. Schubert & Co increased its holdings of Bristol-Myers Squibb shares by 119.1% in the second quarter. Schubert & Co now owns 333 shares of the biopharmaceutical company worth $26,000 after buying 181 more shares last quarter. Castle Wealth Management LLC purchased a new equity stake in Bristol-Myers Squibb during the second quarter at a value of $26,000. Finally, Nauset Wealth Management. LLC purchased a new equity stake from Bristol-Myers Squibb during the first quarter for $27,000. Hedge funds and other institutional investors own 76.54% of the company’s shares.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures and markets biopharmaceuticals worldwide. It offers products for hematology, oncology, cardiovascular disease, immunology, fibrosis, neuroscience and covid-19. The Company’s products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reducing the risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active rheumatoid arthritis and psoriatic arthritis.

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Analyst Recommendations for Bristol-Myers Squibb (NYSE: BMY)

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