Bristol-Myers Squibb (NYSE:BMY) Trading Down 0.8%

Bristol-Myers Squibb (NYSE:BMY) shares were down 0.8% on Thursday . The company traded as low as $43.33 and last traded at $43.85. Approximately 4,735,075 shares were traded during trading, a decline of 70% from the average daily volume of 15,821,210 shares. The stock had previously closed at $44.21.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Barclays dropped their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. 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. Finally, BMO Capital Markets lowered their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

The company has a 50-day moving average price of $50.67 and a two-hundred day moving average price of $50.89. The company has a market capitalization of $88.91 billion, a PE ratio of -14.15, a PEG ratio of 14.70 and a beta of 0.45. 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 (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. Analysts predict that Bristol-Myers Squibb will post 0.6 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.47%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several large investors have recently added to or reduced their stakes in BMY. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,560,524,000. Van ECK Associates Corp lifted its position in Bristol-Myers Squibb by 97.2% during the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after purchasing an additional 3,918,234 shares during the last quarter. Primecap Management Co. CA grew its stake in Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying an additional 2,998,228 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Bristol-Myers Squibb by 36.7% during the 4th quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock valued at $480,118,000 after buying an additional 2,510,134 shares in the last quarter. 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.