Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.4% – Here’s Why

Bristol-Myers Squibb (NYSE:BMY)’s stock price traded down 0.4% during trading on Tuesday . The company traded as low as $59.52 and last traded at $59.59. 2,953,770 shares changed hands during trading, a decline of 79% from the average session volume of 14,404,904 shares. The stock had previously closed at $59.82.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BMY. Morgan Stanley lifted their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, Citigroup boosted their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Stock Down 1.3 %

The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $52.07 and a 200-day simple moving average of $46.89. The stock has a market capitalization of $119.70 billion, a price-to-earnings ratio of -16.57, a price-to-earnings-growth ratio of 20.09 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 earnings per share. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.07%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds have recently modified their holdings of BMY. Capital International Investors lifted its stake in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Bristol-Myers Squibb by 3.3% in 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 purchasing an additional 1,968,729 shares during the period. Primecap Management Co. CA raised its stake in shares of Bristol-Myers Squibb by 1.0% in the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after purchasing an additional 225,197 shares during the period. Legal & General Group Plc lifted its holdings in shares of Bristol-Myers Squibb by 3.8% in the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after purchasing an additional 735,613 shares in the last quarter. Finally, Independent Franchise Partners LLP boosted its position in shares of Bristol-Myers Squibb by 4.0% during the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after buying an additional 556,295 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.