Bristol-Myers Squibb (NYSE:BMY) Reaches New 1-Year Low at $45.11

Bristol-Myers Squibb (NYSE:BMY) shares hit a new 52-week low on Thursday . The company traded as low as $45.11 and last traded at $45.58, with a volume of 11733400 shares trading hands. The stock had previously closed at $48.86.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company raised their target price on shares of 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. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Finally, Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Price Performance

The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The stock has a market cap of $90.60 billion, a P/E ratio of 11.70, a PEG ratio of 1.48 and a beta of 0.39. The firm’s fifty day moving average price is $51.22 and its 200-day moving average price is $51.31.

Bristol-Myers Squibb (NYSE:BMY) last released 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 business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm’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 business posted $2.05 earnings per share. Analysts forecast that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis 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 presently 62.18%.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds have recently modified their holdings of BMY. Riversedge Advisors LLC grew its holdings in Bristol-Myers Squibb by 3.2% in the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after buying an additional 178 shares in the last quarter. Vicus Capital lifted its stake in Bristol-Myers Squibb by 3.9% during the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after acquiring an additional 179 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Bristol-Myers Squibb by 2.3% during the 3rd quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock worth $468,000 after acquiring an additional 182 shares in the last quarter. Addison Advisors LLC lifted its stake in Bristol-Myers Squibb by 6.6% during the 3rd quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock worth $181,000 after acquiring an additional 192 shares in the last quarter. Finally, Symphony Financial Ltd. Co. lifted its stake in Bristol-Myers Squibb by 4.1% during the 3rd quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock worth $288,000 after acquiring an additional 194 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.