Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.1%

Bristol-Myers Squibb (NYSE:BMY) was down 0.1% during trading on Monday . The stock traded as low as $43.91 and last traded at $43.93. Approximately 2,483,875 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 15,760,608 shares. The stock had previously closed at $43.99.

Wall Street Analysts Forecast Growth

BMY has been the topic of several analyst reports. BMO Capital Markets reduced their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Barclays cut their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

The business’s fifty day simple moving average is $50.11 and its 200 day simple moving average is $50.48. The firm has a market capitalization of $88.52 billion, a price-to-earnings ratio of -14.09, a PEG ratio of 14.82 and a beta of 0.45. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same period last year, the business posted $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth $1,560,524,000. Northern Trust Corp raised its holdings in Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after buying an additional 1,394,158 shares during the period. Primecap Management Co. CA increased its position in Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after acquiring an additional 2,998,228 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Bristol-Myers Squibb by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after acquiring an additional 1,246,066 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Bristol-Myers Squibb by 8.6% in the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock valued at $905,806,000 after acquiring an additional 1,240,902 shares during the period. Institutional investors 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.