Bristol-Myers Squibb (NYSE:BMY) Stock Price Down 1.7%

Bristol-Myers Squibb (NYSE:BMY)’s stock price traded down 1.7% on Tuesday . The company traded as low as $40.58 and last traded at $40.59. 2,446,222 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 15,676,147 shares. The stock had previously closed at $41.30.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. BMO Capital Markets reduced their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Barclays reduced their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Performance

The firm has a fifty day simple moving average of $42.97 and a 200 day simple moving average of $48.11. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The stock has a market cap of $81.98 billion, a price-to-earnings ratio of -13.09, a PEG ratio of 14.21 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.93%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of large investors have recently bought and sold shares of BMY. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $27,000. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. Accordant Advisory Group Inc bought a new position in Bristol-Myers Squibb in the 1st quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. bought a new position in Bristol-Myers Squibb in the 4th quarter valued at $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Bristol-Myers Squibb in the 4th quarter valued at $40,000. 76.41% of the stock is currently owned by institutional investors.

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.