Bristol-Myers Squibb (NYSE:BMY) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a strong-buy rating to a buy rating in a report issued on Monday morning.

A number of other analysts have also recently commented on BMY. William Blair reiterated a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Bank of America cut shares of Bristol-Myers Squibb from a buy rating to a neutral rating and lowered their target price for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Societe Generale cut shares of Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Monday, March 11th. Redburn Atlantic cut shares of Bristol-Myers Squibb from a buy rating to a neutral rating and decreased their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an equal weight rating for the company in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of Hold and an average price target of $61.12.

Bristol-Myers Squibb Stock Down 0.9 %

NYSE:BMY opened at $47.83 on Monday. The company’s 50-day simple moving average is $51.26 and its 200-day simple moving average is $51.59. The stock has a market capitalization of $96.94 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.46 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The company had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. Bristol-Myers Squibb’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the business earned $1.82 EPS. On average, equities analysts anticipate that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several institutional investors and hedge funds have recently added to or reduced their stakes in BMY. Riversedge Advisors LLC raised its stake in Bristol-Myers Squibb by 3.2% in the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after purchasing an additional 178 shares during the last quarter. Vicus Capital increased its stake 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 increased its stake in shares of Bristol-Myers Squibb by 17.5% during 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 during the last quarter. Cassia Capital Partners LLC increased its stake in shares of Bristol-Myers Squibb by 2.3% during the 3rd quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock valued at $460,000 after acquiring an additional 182 shares during the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of Bristol-Myers Squibb by 2.3% during the 3rd quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after acquiring an additional 182 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.