Bristol-Myers Squibb (NYSE:BMY) Shares Up 1.8%

Bristol-Myers Squibb (NYSE:BMY)’s stock price shot up 1.8% on Wednesday . The company traded as high as $43.04 and last traded at $42.94. 3,982,096 shares were traded during mid-day trading, a decline of 74% from the average session volume of 15,579,179 shares. The stock had previously closed at $42.19.

Analyst Ratings Changes

A number of brokerages recently weighed in on BMY. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays cut their price target on shares of 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 downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, BMO Capital Markets lowered their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Down 2.4 %

The company has a market cap of $84.12 billion, a PE ratio of -13.39, a price-to-earnings-growth ratio of 14.28 and a beta of 0.43. The company has a fifty day moving average price of $43.25 and a 200 day moving average price of $48.27. 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 issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently made changes to their positions in the stock. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $27,000. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb in the fourth quarter worth $27,000. Accordant Advisory Group Inc bought a new position in Bristol-Myers Squibb in the first quarter worth $31,000. Pacific Capital Wealth Advisors Inc. bought a new position in Bristol-Myers Squibb in the fourth quarter worth $34,000. Finally, VisionPoint Advisory Group LLC raised its holdings in Bristol-Myers Squibb by 300.5% in the third quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 553 shares in 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.