Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.9%

Bristol-Myers Squibb (NYSE:BMY)’s share price dropped 0.9% during mid-day trading on Thursday . The stock traded as low as $41.88 and last traded at $42.10. Approximately 3,337,455 shares changed hands during trading, a decline of 79% from the average daily volume of 15,608,453 shares. The stock had previously closed at $42.50.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Barclays cut their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

The firm has a market capitalization of $84.81 billion, a PE ratio of -13.56, a price-to-earnings-growth ratio of 14.28 and a beta of 0.43. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The company’s fifty day moving average price is $43.25 and its two-hundred day moving average price is $48.27.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the company posted $2.05 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.74%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently modified their holdings of the stock. Northwest Financial Advisors purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $27,000. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. Accordant Advisory Group Inc bought a new position in Bristol-Myers Squibb in the first quarter worth $31,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $40,000. 76.41% of the stock is owned by hedge funds and other 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.