Bristol-Myers Squibb (NYSE:BMY) Trading Down 0.1%

Bristol-Myers Squibb (NYSE:BMY) shares fell 0.1% during trading on Tuesday . The company traded as low as $48.24 and last traded at $48.47. 2,283,553 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 15,765,754 shares. The stock had previously closed at $48.51.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BMY. Wells Fargo & Company dropped their price target on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.12.

Bristol-Myers Squibb Stock Down 0.1 %

The company has a market capitalization of $98.22 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 1.78 and a beta of 0.39. The business’s 50-day moving average is $51.29 and its 200-day moving average is $51.69. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. The company had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 earnings per share. As a group, equities analysts predict that Bristol-Myers Squibb will post 5.41 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.95%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Institutional Trading of Bristol-Myers Squibb

Institutional investors and hedge funds have recently modified their holdings of the stock. Herold Advisors Inc. grew its stake in Bristol-Myers Squibb by 3.2% during the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after acquiring an additional 1,051 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Bristol-Myers Squibb by 9.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock valued at $8,115,000 after purchasing an additional 12,121 shares during the last quarter. Metis Global Partners LLC boosted its holdings in Bristol-Myers Squibb by 14.8% in the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock valued at $5,907,000 after purchasing an additional 13,122 shares during the last quarter. Jmac Enterprises LLC boosted its holdings in Bristol-Myers Squibb by 11.4% in the 3rd quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock valued at $706,000 after purchasing an additional 1,245 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Bristol-Myers Squibb by 17.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,653,151 shares of the biopharmaceutical company’s stock valued at $212,029,000 after purchasing an additional 530,405 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.