Bristol-Myers Squibb (NYSE:BMY) Trading Up 0.4% After Analyst Upgrade

Bristol-Myers Squibb (NYSE:BMY) was up 0.4% during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $51.00 to $52.00. Wells Fargo & Company currently has an equal weight rating on the stock. Bristol-Myers Squibb traded as high as $48.57 and last traded at $48.49. Approximately 1,886,248 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 15,592,247 shares. The stock had previously closed at $48.30.

BMY has been the subject of a number of other research reports. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered 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. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. One 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.18.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Dakota Wealth Management acquired a new position in Bristol-Myers Squibb during the first quarter worth $332,000. Covestor Ltd boosted its stake in shares of Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 1,082 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 53.2% in the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after acquiring an additional 57,444 shares in the last quarter. Ergoteles LLC bought a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $1,997,000. Finally, Mackenzie Financial Corp increased its position in shares of Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after acquiring an additional 68,018 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.3 %

The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The firm has a fifty day moving average of $51.25 and a 200-day moving average of $51.57. The firm has a market cap of $98.18 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.82 earnings per share. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.63 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. Stockholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.95%. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.