Bristol-Myers Squibb (NYSE:BMY) Sets New 12-Month Low at $39.63

Bristol-Myers Squibb (NYSE:BMY) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $39.63 and last traded at $40.58, with a volume of 3836026 shares trading hands. The stock had previously closed at $40.81.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BMY shares. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. BMO Capital Markets cut their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Barclays cut their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, June 17th. Finally, Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Performance

The firm has a fifty day simple moving average of $43.60 and a 200 day simple moving average of $48.45. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The stock has a market cap of $85.00 billion, a price-to-earnings ratio of -13.53, a PEG ratio of 13.82 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.72%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several large investors have recently modified their holdings of the stock. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $27,000. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter valued at $27,000. Accordant Advisory Group Inc acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $40,000. 76.41% of the stock is currently owned by institutional investors.

About Bristol-Myers Squibb

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.