Bristol-Myers Squibb (NYSE:BMY) had its target price cut by Bank of America from $68.00 to $61.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. Bank of America’s price target points to a potential upside of 16.08% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. Argus reissued a “buy” rating and set a $66.43 target price (down previously from $75.00) on shares of Bristol-Myers Squibb in a report on Wednesday, March 21st. Vetr cut Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 target price for the company. in a report on Tuesday, January 16th. JPMorgan Chase set a $75.00 target price on Bristol-Myers Squibb and gave the company an “overweight” rating in a report on Tuesday, March 20th. Zacks Investment Research raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Finally, Credit Suisse Group set a $62.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $64.95.
NYSE BMY traded down $1.53 during trading hours on Tuesday, reaching $52.55. The company’s stock had a trading volume of 17,880,804 shares, compared to its average volume of 8,234,470. The stock has a market capitalization of $95,750.99, a price-to-earnings ratio of 17.47, a PEG ratio of 1.52 and a beta of 0.96. Bristol-Myers Squibb has a 1-year low of $51.56 and a 1-year high of $70.05. The company has a current ratio of 1.55, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59.
A number of institutional investors have recently modified their holdings of BMY. Delphi Private Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $108,000. Massey Quick Simon & CO. LLC raised its stake in Bristol-Myers Squibb by 523.5% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,777 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 1,492 shares in the last quarter. NuWave Investment Management LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $119,000. Horan Capital Advisors LLC. acquired a new stake in Bristol-Myers Squibb in the third quarter valued at $122,000. Finally, AllSquare Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the third quarter valued at $134,000. Institutional investors own 71.51% of the company’s stock.
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Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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