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

Bristol-Myers Squibb (NYSE:BMY)’s stock price dropped 0.1% 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.

Wall Street Analyst Weigh In

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

Bristol-Myers Squibb Trading Down 0.9 %

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

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the firm posted $1.82 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that Bristol-Myers Squibb will post 6.47 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. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.02%. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. OFI Invest Asset Management bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at approximately $25,000. True Wealth Design LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $26,000. Milestone Investment Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at approximately $27,000. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $27,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $28,000. Institutional investors own 76.41% of the company’s stock.

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.