Connect with us

Business

Bristol-Myers Squibb Stock: Recent Performance, Analyst Recommendations, and Future Outlook

Published

on

Bristol Myers Squibb Stock Chart

Bristol-Myers Squibb (NYSE:BMY) has been under the spotlight recently due to its latest financial performance and analyst recommendations. As of November 11, 2024, the stock is trading at $54.14, showing a stable trend with minimal price volatility over the past three months compared to the broader market.

In the third quarter of 2024, Bristol-Myers Squibb reported strong earnings, with an EPS of $1.80, surpassing analysts’ consensus estimates of $1.49. The company also saw an 8.4% year-over-year increase in quarterly revenue, reaching $11.89 billion, which exceeded expectations of $11.26 billion.

Analysts have mixed views on the stock. Deutsche Bank recently maintained its hold recommendation but raised the price target from $48 to $55. Other firms, such as UBS Group and Jefferies Financial Group, have also adjusted their price targets, with UBS lifting its target to $54 and Jefferies to $51. However, Citigroup downgraded the stock from a “buy” to a “neutral” rating and lowered the price target from $75 to $55.

The consensus rating among analysts is “hold,” with a median target price of $53.00. The stock has received 1 sell rating, 13 hold ratings, and no strong buy ratings in the last twelve months.

Sigma Planning Corp, an investment firm, has also shown confidence in Bristol-Myers Squibb by increasing its stake in the company by 20.9% during the third quarter, purchasing an additional 9,746 shares.

Bristol-Myers Squibb continues to offer a diverse portfolio of biopharmaceutical products and has a strong global market presence. However, the company faces challenges such as regulatory pressures, market volatility, and competition from other pharmaceutical companies, which could impact its future growth prospects).

Times News Global

Times News Global is a dynamic online news portal dedicated to providing comprehensive and up-to-date news coverage across various domains including politics, business, entertainment, sports, security, features, opinions, environment, education, technology and global. affairs. Our commitment lies in sharing news that is based on factual accuracy, credibility, verifiability, authority and depth of research. We pride ourselves on being a distinctive media organization, guided by the principles enshrined in Article 19 of the Universal Declaration of Human Rights. Made up of a team of ordinary people driven by an unwavering dedication to uncovering the truth, we publish news without bias or intimidation.

Recent Posts