Bristol-Myers Squibb (NYSE:BMY) Trading Down 1%

Bristol-Myers Squibb (NYSE:BMYGet Free Report) shares traded down 1% during mid-day trading on Wednesday . The company traded as low as $42.22 and last traded at $42.60. 2,980,352 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 15,362,644 shares. The stock had previously closed at $43.02.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Barclays decreased their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 23rd. BMO Capital Markets decreased their target price on shares of 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. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.00.

View Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Price Performance

The firm’s 50-day moving average is $45.10 and its two-hundred day moving average is $48.88. The company has a market cap of $86.54 billion, a P/E ratio of -13.74, a PEG ratio of 14.41 and a beta of 0.43. 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:BMYGet Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.05 earnings per share. Analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital International Investors boosted its stake in Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after buying an additional 8,675,322 shares during the period. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $1,560,524,000. Northern Trust Corp boosted its stake 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 valued at $1,467,989,000 after purchasing an additional 1,394,158 shares during the period. Primecap Management Co. CA boosted its stake 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 valued at $1,207,549,000 after purchasing an additional 2,998,228 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Bristol-Myers Squibb by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after purchasing an additional 1,246,066 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Company Profile

(Get Free Report)

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.

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