Cantor Fitzgerald lifts Bristol-Myers Squibb Company [BMY] price estimate. Who else is bullish?

Bristol-Myers Squibb Company [NYSE: BMY] loss -0.27% or -0.19 points to close at $69.99 with a heavy trading volume of 4990400 shares. The company report on February 27, 2023 that Bristol Myers Squibb to Present Data Supporting its Cardiovascular Portfolio at the American College of Cardiology Annual Scientific Session Together With World Congress of Cardiology.

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Data across EXPLORER-HCM, MAVA-LTE and PIONEER-OLE add to the growing body of evidence from the CAMZYOS® (mavacamten) development program, reinforcing the therapeutic value and benefit to patients.

Bristol Myers Squibb (NYSE: BMY) today announced the presentation of research supporting the company’s cardiovascular franchise at the American College of Cardiology (ACC) Annual Scientific Session & Expo together with the World Congress of Cardiology (WCC), taking place in-person and virtually March 4-6, 2023. Findings from clinical studies will be featured, including several moderated poster presentations from the CAMZYOS® (mavacamten) development program showcasing data across various subgroups of patients with obstructive hypertrophic cardiomyopathy (HCM). During the meeting, the Bristol Myers Squibb-Pfizer Alliance will also present results characterizing the healthcare provider perspective on consumer wearables for atrial fibrillation detection.

It opened the trading session at $70.29, the shares rose to $70.41 and dropped to $69.73, the range by which the price of stock traded the whole day. The daily chart for BMY points out that the company has recorded -2.11% loss over the past six months. However, it is still -6.13% lower than its most recent low trading price.

If we look at the average trading volume of 8.56M shares, BMY reached to a volume of 4990400 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $82.44 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 2.30. 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.

Cantor Fitzgerald have made an estimate for Bristol-Myers Squibb Company shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 17, 2023. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on November 18, 2022, representing the official price target for Bristol-Myers Squibb Company stock. On September 14, 2022, analysts decreased their price target for BMY shares from 82 to 76.

The Average True Range (ATR) for Bristol-Myers Squibb Company is set at 1.30, with the Price to Sales ratio for BMY stock in the period of the last 12 months amounting to 3.24. The Price to Book ratio for the last quarter was 4.75, with the Price to Cash per share for the same quarter was set at 4.33. Price to Free Cash Flow for BMY in the course of the last twelve months was 20.43 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for BMY stock

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 -1.58. With this latest performance, BMY shares dropped by -4.11% in over the last four-week period, additionally sinking by -2.11% over the last 6 months – not to mention a rise of 4.31% 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 37.48, with the RSI for the last a single of trading hit 32.76, and the three-weeks RSI is set at 39.96 for Bristol-Myers Squibb Company [BMY]. The present Moving Average for the last 50 days of trading for this stock 72.55, while it was recorded at 70.82 for the last single week of trading, and 74.03 for the last 200 days.

Bristol-Myers Squibb Company [BMY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Bristol-Myers Squibb Company [BMY] shares currently have an operating margin of +20.08 and a Gross Margin at +57.39. Bristol-Myers Squibb Company’s Net Margin is presently recorded at +13.71.

Return on Equity for this stock inclined to 18.88, with Return on Assets sitting at 6.14.

Bristol-Myers Squibb Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.20.

Bristol-Myers Squibb Company [BMY]: An earnings per share (EPS) analysis

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 3.83%.

An analysis of insider ownership at Bristol-Myers Squibb Company [BMY]

There are presently around $113,298 million, or 79.40% of BMY stock, in the hands of institutional investors. The top three institutional holders of BMY stocks are: VANGUARD GROUP INC with ownership of 202,927,620, which is approximately 1.521% of the company’s market cap and around 0.07% of the total institutional ownership; BLACKROCK INC., holding 172,727,988 shares of the stock with an approximate value of $12.09 billion in BMY stocks shares; and JPMORGAN CHASE & CO, currently with $6.91 billion in BMY stock with ownership of nearly -0.839% of the company’s market capitalization.

Positions in Bristol-Myers Squibb Company stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 1,254 institutional holders increased their position in Bristol-Myers Squibb Company [NYSE:BMY] by around 67,373,972 shares. Additionally, 1,093 investors decreased positions by around 93,281,892 shares, while 376 investors held positions by with 1,458,122,066 shares. The mentioned changes placed institutional holdings at 1,618,777,930 shares, according to the latest SEC report filing. BMY stock had 243 new institutional investments in for a total of 10,304,244 shares, while 94 institutional investors sold positions of 3,308,279 shares during the same period.


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