Bristol-Myers Squibb (NYSE:BMY) Trading Down 0.8%

Bristol-Myers Squibb (NYSE:BMY)’s share price traded down 0.8% during mid-day trading on Wednesday . The stock traded as low as $40.11 and last traded at $40.12. 3,572,360 shares changed hands during trading, a decline of 77% from the average session volume of 15,700,410 shares. The stock had previously closed at $40.45.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BMY shares. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Barclays dropped their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. BMO Capital Markets cut their price target on 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 increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Trading Down 1.0 %

The business has a 50 day simple moving average of $42.37 and a two-hundred day simple moving average of $47.86. The stock has a market cap of $81.21 billion, a price-to-earnings ratio of -12.92, a price-to-earnings-growth ratio of 13.71 and a beta of 0.44. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during 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%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $2.05 EPS. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.99%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several large investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its position in shares of Bristol-Myers Squibb by 2.9% in the 4th quarter. Westside Investment Management Inc. now owns 7,156 shares of the biopharmaceutical company’s stock worth $367,000 after buying an additional 204 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in Bristol-Myers Squibb by 2.8% in the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 207 shares during the period. Fulton Breakefield Broenniman LLC grew its holdings in shares of Bristol-Myers Squibb by 4.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock valued at $243,000 after purchasing an additional 209 shares during the last quarter. Chapin Davis Inc. raised its position in shares of Bristol-Myers Squibb by 1.2% during the 4th quarter. Chapin Davis Inc. now owns 18,385 shares of the biopharmaceutical company’s stock worth $943,000 after purchasing an additional 214 shares during the period. Finally, Accurate Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 4.0% in the 1st quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock worth $304,000 after purchasing an additional 216 shares during the last quarter. 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.