Bristol-Myers Squibb (NYSE:BMY) Shares Down 1.1%

Bristol-Myers Squibb (NYSE:BMY)’s stock price dropped 1.1% during trading on Thursday . The stock traded as low as $41.58 and last traded at $41.89. Approximately 3,501,801 shares were traded during trading, a decline of 77% from the average daily volume of 15,412,425 shares. The stock had previously closed at $42.34.

Analysts Set New Price Targets

BMY has been the subject of several research reports. Redburn Atlantic downgraded shares of 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. Barclays lowered their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. BMO Capital Markets reduced their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Finally, Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Down 1.6 %

The firm has a market cap of $84.49 billion, a PE ratio of -13.45, a PEG ratio of 14.31 and a beta of 0.45. The business’s 50 day moving average price is $48.24 and its 200 day moving average price is $49.80. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 EPS. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Duality Advisers LP purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $210,000. Larson Financial Group LLC increased its stake in Bristol-Myers Squibb by 8.4% during the 3rd quarter. Larson Financial Group LLC now owns 4,300 shares of the biopharmaceutical company’s stock worth $250,000 after buying an additional 333 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Bristol-Myers Squibb by 7.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 912,105 shares of the biopharmaceutical company’s stock worth $52,939,000 after buying an additional 61,811 shares during the period. Corient Private Wealth LLC increased its position in shares of Bristol-Myers Squibb by 2.5% in the 3rd quarter. Corient Private Wealth LLC now owns 1,115,819 shares of the biopharmaceutical company’s stock valued at $64,755,000 after purchasing an additional 26,714 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Bristol-Myers Squibb by 23.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,615 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 881 shares during the last quarter. 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.