Bristol-Myers Squibb (NYSE:BMY) Trading 1.3% Higher – Still a Buy?

Shares of Bristol-Myers Squibb (NYSE:BMY) traded up 1.3% on Friday . The company traded as high as $46.63 and last traded at $46.40. 3,667,509 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 13,220,612 shares. The stock had previously closed at $45.81.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective for the company. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. Finally, UBS Group cut their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.00.

Bristol-Myers Squibb Stock Performance

The firm has a market capitalization of $95.18 billion, a P/E ratio of -10.58, a P/E/G ratio of 2.07 and a beta of 0.39. The firm has a 50-day moving average price of $53.05 and a two-hundred day moving average price of $55.99. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted ($4.40) earnings per share. On average, analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.30%. Bristol-Myers Squibb’s payout ratio is currently 92.88%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 4,250 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. The trade was a 5.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Bristol-Myers Squibb

Several institutional investors and hedge funds have recently made changes to their positions in BMY. Truist Financial Corp raised its holdings in Bristol-Myers Squibb by 3.9% in the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after purchasing an additional 60,365 shares in the last quarter. Corundum Group Inc. raised its holdings in Bristol-Myers Squibb by 67.8% in the fourth quarter. Corundum Group Inc. now owns 43,534 shares of the biopharmaceutical company’s stock worth $2,462,000 after purchasing an additional 17,596 shares in the last quarter. High Net Worth Advisory Group LLC raised its holdings in Bristol-Myers Squibb by 42.2% in the fourth quarter. High Net Worth Advisory Group LLC now owns 16,974 shares of the biopharmaceutical company’s stock worth $960,000 after purchasing an additional 5,040 shares in the last quarter. KBC Group NV raised its holdings in Bristol-Myers Squibb by 18.4% in the fourth quarter. KBC Group NV now owns 4,054,868 shares of the biopharmaceutical company’s stock worth $229,343,000 after purchasing an additional 628,908 shares in the last quarter. Finally, Quilter Plc raised its holdings in Bristol-Myers Squibb by 56.6% in the fourth quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company’s stock worth $6,098,000 after purchasing an additional 38,977 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

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.