Bristol-Myers Squibb (NYSE:BMY) Stock Price Up 1%

Bristol-Myers Squibb (NYSE:BMY) traded up 1% during mid-day trading on Wednesday . The stock traded as high as $53.69 and last traded at $53.10. 2,721,278 shares were traded during trading, a decline of 84% from the average session volume of 16,740,408 shares. The stock had previously closed at $52.55.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BMY. Wells Fargo & Company decreased their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Finally, Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $61.12.

Bristol-Myers Squibb Stock Up 1.8 %

The firm has a 50 day moving average price of $50.79 and a 200-day moving average price of $52.44. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm has a market cap of $109.91 billion, a PE ratio of 14.05, a PEG ratio of 1.61 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter in the previous year, the business posted $1.82 EPS. The firm’s revenue was up .6% on a year-over-year basis. Research analysts forecast that Bristol-Myers Squibb will post 6.61 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Bristol-Myers Squibb announced that its board has authorized a share repurchase program on Thursday, December 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Brown Shipley& Co Ltd boosted its holdings in Bristol-Myers Squibb by 1.8% in the second quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 164 shares in the last quarter. Riversedge Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 3.2% during the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock worth $330,000 after acquiring an additional 178 shares in the last quarter. Vicus Capital increased its holdings in shares of Bristol-Myers Squibb by 3.9% during the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 179 shares during the last quarter. Front Row Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 17.5% in the 4th quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 182 shares in the last quarter. Finally, Cassia Capital Partners LLC boosted its position in Bristol-Myers Squibb by 2.3% during the third quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock worth $460,000 after purchasing an additional 182 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.