Bristol Myers Squibb (NYSE:BMY) Trading 1.9% Higher Following Analyst Upgrade

Bristol Myers Squibb Company (NYSE:BMY) shares rose 1.9% during trading on Wednesday after Leerink Partners raised their price target on the stock from $54.00 to $60.00. Leerink Partners currently has an outperform rating on the stock. Bristol Myers Squibb traded as high as $57.04 and last traded at $56.9750. Approximately 13,345,887 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 12,388,765 shares. The stock had previously closed at $55.92.

BMY has been the subject of a number of other research reports. Truist Financial set a $65.00 price objective on Bristol Myers Squibb in a report on Wednesday, December 3rd. Morgan Stanley reissued an “underweight” rating and set a $37.00 price target (up from $36.00) on shares of Bristol Myers Squibb in a report on Friday, December 12th. Scotiabank reaffirmed a “sector perform” rating and issued a $60.00 price objective (up from $53.00) on shares of Bristol Myers Squibb in a report on Friday, January 9th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Finally, Bank of America raised shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $61.00 in a research report on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.86.

Institutional Trading of Bristol Myers Squibb

Large investors have recently made changes to their positions in the company. Gateway Investment Advisers LLC boosted its stake in shares of Bristol Myers Squibb by 10.0% during the third quarter. Gateway Investment Advisers LLC now owns 113,457 shares of the biopharmaceutical company’s stock valued at $5,117,000 after purchasing an additional 10,284 shares during the period. CWA Asset Management Group LLC raised its holdings in Bristol Myers Squibb by 25.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 150,359 shares of the biopharmaceutical company’s stock valued at $6,781,000 after buying an additional 30,909 shares during the last quarter. Commonwealth Retirement Investments LLC boosted its position in Bristol Myers Squibb by 24.6% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock valued at $2,740,000 after buying an additional 11,690 shares during the period. Norges Bank bought a new stake in Bristol Myers Squibb in the 2nd quarter worth $1,554,154,000. Finally, Wealth Quarterback LLC increased its position in shares of Bristol Myers Squibb by 42.6% in the second quarter. Wealth Quarterback LLC now owns 25,443 shares of the biopharmaceutical company’s stock valued at $1,178,000 after acquiring an additional 7,603 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Up 1.9%

The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. The stock has a market capitalization of $115.99 billion, a P/E ratio of 19.25, a P/E/G ratio of 9.23 and a beta of 0.29. The firm’s 50 day moving average price is $51.33 and its 200 day moving average price is $47.94.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the previous year, the business earned $1.80 EPS. Bristol Myers Squibb’s revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, equities research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, January 2nd. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is presently 85.14%.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.