Bristol-Myers Squibb (NYSE:BMY) Reaches New 1-Year Low at $45.11

Shares of Bristol-Myers Squibb (NYSE:BMY) hit a new 52-week low during trading on Thursday . The company traded as low as $45.11 and last traded at $45.58, with a volume of 11733400 shares changing hands. The stock had previously closed at $48.86.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BMY. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Finally, Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.18.

Bristol-Myers Squibb Stock Down 8.5 %

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The company has a market cap of $90.60 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. The business has a 50-day simple moving average of $51.22 and a 200-day simple moving average of $51.31.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. On average, equities analysts anticipate that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $1,560,524,000. Northern Trust Corp lifted its position in shares of Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after purchasing an additional 1,394,158 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after purchasing an additional 2,998,228 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Bristol-Myers Squibb by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after acquiring an additional 1,246,066 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Bristol-Myers Squibb by 8.6% in the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after acquiring an additional 1,240,902 shares during 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.