Bristol-Myers Squibb (NYSE:BMY) Trading Down 7.5%

Bristol-Myers Squibb (NYSE:BMY) shares dropped 7.5% on Thursday . The stock traded as low as $44.95 and last traded at $45.18. Approximately 15,564,589 shares changed hands during mid-day trading, an increase of 0% from the average daily volume of 15,510,752 shares. The stock had previously closed at $48.86.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMY. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Price Performance

The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm has a fifty day moving average of $51.22 and a two-hundred day moving average of $51.31. The company has a market capitalization of $90.56 billion, a PE ratio of 11.70, a PEG ratio of 1.48 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 EPS. Research analysts anticipate that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently made changes to their positions in the business. Institute for Wealth Management LLC. increased its stake in Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after buying an additional 296 shares in the last quarter. Herold Advisors Inc. boosted its holdings in shares of Bristol-Myers Squibb by 3.2% in the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after purchasing an additional 1,051 shares during the period. Kestra Private Wealth Services LLC grew its position in shares of Bristol-Myers Squibb by 9.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after buying an additional 12,121 shares in the last quarter. Metis Global Partners LLC grew its holdings in Bristol-Myers Squibb by 14.8% during the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after acquiring an additional 13,122 shares in the last quarter. Finally, Jmac Enterprises LLC increased its holdings in shares of Bristol-Myers Squibb by 11.4% in the 3rd quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock valued at $706,000 after acquiring an additional 1,245 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.