Raymond James slashes price target on Bristol-Myers Squibb Company [BMY] – find out why.

Bristol-Myers Squibb Company [NYSE: BMY] slipped around -4.44 points on Monday, while shares priced at $66.75 at the close of the session, down -6.24%. The company report on August 28, 2022 that Late-Breaking Results From Phase 2 AXIOMATIC-SSP Study of Milvexian, an Investigational Oral Factor XIa Inhibitor, Show Favorable Antithrombotic Profile in Combination With Dual Antiplatelet Therapy.


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~30% relative risk reduction seen in symptomatic ischemic strokes in three milvexian arms compared to placebo; dose response not observed for primary study objective.

No fatal bleeding and no increase in symptomatic intracranial hemorrhage observed in patients treated with milvexian, even with all patients receiving 21 days of background dual antiplatelet therapy followed by single antiplatelet therapy.

Bristol-Myers Squibb Company stock is now 7.06% up from its year-to-date (YTD) trading value. BMY Stock saw the intraday high of $69.91 and lowest of $66.4001 per share. The company’s 52-week high price is 80.59, which means current price is +9.68% above from all time high which was touched on 06/27/22.

Compared to the average trading volume of 10.68M shares, BMY reached a trading volume of 18459040 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Bristol-Myers Squibb Company [BMY]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BMY shares is $81.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BMY stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Bristol-Myers Squibb Company shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on June 03, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Underweight. The new note on the price target was released on April 06, 2022, representing the official price target for Bristol-Myers Squibb Company stock. Previously, the target price had yet another raise to $72, while Goldman analysts kept a Buy rating on BMY stock.

The Average True Range (ATR) for Bristol-Myers Squibb Company is set at 1.60, with the Price to Sales ratio for BMY stock in the period of the last 12 months amounting to 3.04. The Price to Book ratio for the last quarter was 4.37, with the Price to Cash per share for the same quarter was set at 6.19. Price to Free Cash Flow for BMY in the course of the last twelve months was 14.67 with Quick ratio for the last quarter at 1.30.

How has BMY stock performed recently?

Bristol-Myers Squibb Company [BMY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.46. With this latest performance, BMY shares dropped by -9.53% in over the last four-week period, additionally sinking by -2.80% over the last 6 months – not to mention a rise of 0.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BMY stock in for the last two-week period is set at 24.39, with the RSI for the last a single of trading hit 17.41, and the three-weeks RSI is set at 29.51 for Bristol-Myers Squibb Company [BMY]. The present Moving Average for the last 50 days of trading for this stock 74.54, while it was recorded at 70.93 for the last single week of trading, and 69.89 for the last 200 days.

Bristol-Myers Squibb Company [BMY]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Bristol-Myers Squibb Company [BMY] shares currently have an operating margin of +20.57 and a Gross Margin at +57.69. Bristol-Myers Squibb Company’s Net Margin is presently recorded at +15.08.

Return on Equity for this stock inclined to 18.96, with Return on Assets sitting at 6.14.

Bristol-Myers Squibb Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.40.

Earnings analysis for Bristol-Myers Squibb Company [BMY]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BMY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bristol-Myers Squibb Company go to 4.88%.

Insider trade positions for Bristol-Myers Squibb Company [BMY]

There are presently around $110,896 million, or 79.80% of BMY stock, in the hands of institutional investors. The top three institutional holders of BMY stocks are: VANGUARD GROUP INC with ownership of 196,828,094, which is approximately -0.837% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 170,645,262 shares of the stock with an approximate value of $11.39 billion in BMY stocks shares; and JPMORGAN CHASE & CO, currently with $6.53 billion in BMY stock with ownership of nearly 4.129% of the company’s market capitalization.

Positions in Bristol-Myers Squibb Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 1,127 institutional holders increased their position in Bristol-Myers Squibb Company [NYSE:BMY] by around 118,059,162 shares. Additionally, 1,176 investors decreased positions by around 90,535,577 shares, while 352 investors held positions by with 1,452,765,017 shares. The mentioned changes placed institutional holdings at 1,661,359,756 shares, according to the latest SEC report filing. BMY stock had 152 new institutional investments in for a total of 9,180,785 shares, while 98 institutional investors sold positions of 8,263,791 shares during the same period.

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