Bristol-Myers Squibb (NYSE:BMY) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Bristol-Myers Squibb (NYSE:BMY) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

Other equities research analysts have also issued reports about the stock. Societe Generale lowered shares of Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. Barclays lowered their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating for the company in a report on Friday, April 26th. BMO Capital Markets reduced their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating on the stock in a research report on Friday, April 26th. 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 upped their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of Hold and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

BMY stock opened at $41.53 on Thursday. The company’s 50-day moving average price is $42.97 and its two-hundred day moving average price is $48.11. The firm has a market cap of $84.19 billion, a P/E ratio of -13.40, a P/E/G ratio of 14.21 and a beta of 0.43. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. Bristol-Myers Squibb has a 12 month low of $39.63 and a 12 month high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. On average, analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid 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 5.78%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors have recently made changes to their positions in the stock. Capital International Investors raised its stake in Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after buying an additional 8,675,322 shares during the period. Norges Bank acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $1,560,524,000. Primecap Management Co. CA increased its stake in Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after purchasing an additional 2,998,228 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Bristol-Myers Squibb by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after buying an additional 1,246,066 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after buying an additional 5,461,767 shares in 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.