Bristol-Myers Squibb (NYSE:BMY) Trading Down 0.1%

Bristol-Myers Squibb (NYSE:BMY)’s stock price dropped 0.1% during trading on Tuesday . The company traded as low as $48.24 and last traded at $48.47. Approximately 2,283,553 shares were traded during trading, a decline of 86% from the average daily volume of 15,765,754 shares. The stock had previously closed at $48.51.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of recent analyst reports. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, Wells Fargo & Company reduced their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Stock Down 0.9 %

The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock has a market cap of $96.94 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.39. The business has a fifty day moving average of $51.26 and a 200-day moving average of $51.59.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. The firm had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. Bristol-Myers Squibb’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 earnings per share. Equities research analysts anticipate that Bristol-Myers Squibb will post 6.47 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently made changes to their positions in the business. OFI Invest Asset Management acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth $25,000. True Wealth Design LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $26,000. Milestone Investment Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter valued at $27,000. Northwest Financial Advisors purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $27,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $28,000. 76.41% of the stock is owned by institutional investors and hedge funds.

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.