Bristol-Myers Squibb (NYSE:BMY) Hits New 52-Week High – Here’s What Happened

Bristol-Myers Squibb (NYSE:BMY)’s stock price hit a new 52-week high on Friday . The company traded as high as $61.68 and last traded at $61.90, with a volume of 841067 shares changing hands. The stock had previously closed at $60.18.

Analysts Set New Price Targets

Several research firms recently issued reports on BMY. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Wolfe Research began coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Cantor Fitzgerald raised their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Trading Up 1.6 %

The company’s fifty day simple moving average is $57.39 and its two-hundred day simple moving average is $55.13. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $124.11 billion, a price-to-earnings ratio of -13.84, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.05%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Institutional Trading of Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Bristol-Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock worth $10,743,262,000 after buying an additional 1,373,209 shares during the period. State Street Corp boosted its holdings in shares of Bristol-Myers Squibb by 1.6% during the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after buying an additional 1,451,214 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after buying an additional 1,968,729 shares during the period. Capital International Investors boosted its holdings in shares of Bristol-Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock worth $2,593,940,000 after buying an additional 3,218,865 shares during the period. Finally, FMR LLC boosted its holdings in shares of Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after buying an additional 4,275,787 shares during the period. 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.