Bristol-Myers Squibb’s “Neutral” Rating Reaffirmed at Zacks (BMY)

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Zacks reissued their neutral rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note released on Friday morning. They currently have a $52.00 target price on the stock.

Zacks’ analyst wrote, “Bristol-Myers’ second quarter 2014 adjusted earnings of $0.46 per share beat the Zacks Consensus Estimate by 2 cents. Net sales (including the diabetes business) however slipped 4% to $3.9 billion. Key oncology drugs performed encouragingly in the quarter. However, sales of drugs from its virology unit were disappointing. Bristol-Myers has been trying to offset the declining sales of some of its important products by bringing in new products. We are positive on Bristol-Myers’ decision to sell its underperforming diabetes portfolio. We are also impressed by the company’s efforts to develop its pipeline. We believe that the stock is fairly valued at current levels with limited scope for appreciation and hence retain our Neutral recommendation.”

Other equities research analysts have also recently issued reports about the stock. Analysts at MKM Partners raised their price target on shares of Bristol-Myers Squibb from $29.00 to $34.00 in a research note on Friday. They now have a sell rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Bristol-Myers Squibb from $42.00 to $43.50 in a research note on Monday, July 14th. They now have a hold rating on the stock. Finally, analysts at Leerink Swann cut their price target on shares of Bristol-Myers Squibb from $62.00 to $55.00 in a research note on Tuesday, July 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $51.70.

Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 49.39 on Friday. Bristol-Myers Squibb has a one year low of $41.11 and a one year high of $57.49. The stock has a 50-day moving average of $48.26 and a 200-day moving average of $50.85. The company has a market cap of $81.848 billion and a price-to-earnings ratio of 30.72.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings data on Thursday, July 24th. The company reported $0.48 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.04. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter last year, the company posted $0.44 earnings per share. Bristol-Myers Squibb’s revenue was down 3.9% compared to the same quarter last year. On average, analysts predict that Bristol-Myers Squibb will post $1.79 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, July 1st.

Bristol-Myers Squibb Company (NYSE:BMY) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products on a global basis.

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