Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.6% – What’s Next?

Bristol-Myers Squibb (NYSE:BMY)’s stock price dropped 0.6% on Wednesday . The company traded as low as $58.44 and last traded at $58.69. Approximately 1,733,731 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 14,402,706 shares. The stock had previously closed at $59.02.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BMY. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Citigroup raised their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Down 0.9 %

The company has a fifty day moving average price of $52.24 and a 200 day moving average price of $46.99. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the firm earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.10%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Bristol-Myers Squibb

Large investors have recently added to or reduced their stakes in the company. Atomi Financial Group Inc. purchased a new stake in shares of Bristol-Myers Squibb in the first quarter worth about $231,000. Avantax Advisory Services Inc. grew its position in shares of Bristol-Myers Squibb by 3.5% in the first quarter. Avantax Advisory Services Inc. now owns 69,961 shares of the biopharmaceutical company’s stock valued at $3,794,000 after purchasing an additional 2,336 shares in the last quarter. TD Asset Management Inc grew its position in shares of Bristol-Myers Squibb by 2.7% in the first quarter. TD Asset Management Inc now owns 1,648,245 shares of the biopharmaceutical company’s stock valued at $89,384,000 after purchasing an additional 42,682 shares in the last quarter. Souders Financial Advisors purchased a new position in Bristol-Myers Squibb in the first quarter worth approximately $370,000. Finally, TBH Global Asset Management LLC grew its position in Bristol-Myers Squibb by 10.4% in the first quarter. TBH Global Asset Management LLC now owns 9,656 shares of the biopharmaceutical company’s stock worth $524,000 after acquiring an additional 906 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.