Bristol-Myers Squibb (NYSE:BMY) Stock Price Up 1.3% – Here’s Why

Bristol-Myers Squibb (NYSE:BMY)’s share price shot up 1.3% during trading on Tuesday . The stock traded as high as $48.26 and last traded at $47.86. 3,431,859 shares were traded during trading, a decline of 74% from the average session volume of 13,182,992 shares. The stock had previously closed at $47.22.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. 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 research note on Friday, April 11th. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Bristol-Myers Squibb Price Performance

The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $97.73 billion, a price-to-earnings ratio of -10.79, a P/E/G ratio of 2.07 and a beta of 0.39. The business’s 50 day simple moving average is $52.80 and its 200-day simple moving average is $55.94.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 4,250 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares in the company, 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 is available through this hyperlink. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $25,000. Park Square Financial Group LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $28,000. Transce3nd LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $28,000. Finally, Global Wealth Strategies & Associates lifted its position in shares of Bristol-Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 275 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.