Bristol-Myers Squibb (NYSE:BMY) Stock Price Down 0.7%

Bristol-Myers Squibb (NYSE:BMY)’s stock price was down 0.7% on Wednesday . The stock traded as low as $48.55 and last traded at $48.65. Approximately 2,515,820 shares traded hands during trading, a decline of 84% from the average daily volume of 15,356,469 shares. The stock had previously closed at $48.99.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BMY. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Trading Down 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’s 50 day simple moving average is $51.22 and its two-hundred day simple moving average is $51.32. The stock has a market cap of $99.03 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts predict that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several institutional investors have recently bought and sold shares of BMY. Institute for Wealth Management LLC. lifted its holdings in Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after acquiring an additional 296 shares during the last quarter. Herold Advisors Inc. lifted its holdings in Bristol-Myers Squibb by 3.2% in the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after acquiring an additional 1,051 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Bristol-Myers Squibb by 9.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock valued at $8,115,000 after purchasing an additional 12,121 shares during the period. Metis Global Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 14.8% in the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock valued at $5,907,000 after purchasing an additional 13,122 shares during the period. Finally, Jmac Enterprises LLC increased its holdings in Bristol-Myers Squibb by 11.4% in the third quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock worth $706,000 after buying an additional 1,245 shares during the last quarter. Institutional investors and hedge funds 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.