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

Bristol-Myers Squibb (NYSE:BMY) shares were down 0.8% on Wednesday . The stock traded as low as $40.11 and last traded at $40.12. Approximately 3,572,360 shares traded hands during trading, a decline of 77% from the average daily volume of 15,700,410 shares. The stock had previously closed at $40.45.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BMY shares. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. BMO Capital Markets lowered their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. One 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Stock Performance

The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The company has a market cap of $81.33 billion, a PE ratio of -12.94, a P/E/G ratio of 14.21 and a beta of 0.44. The stock’s 50 day simple moving average is $42.64 and its two-hundred day simple moving average is $47.97.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 earnings per share. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.58 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 Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently made changes to their positions in the business. Capital International Investors raised its stake in shares of Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after acquiring an additional 8,675,322 shares during the period. Norges Bank purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $1,560,524,000. Primecap Management Co. CA grew its holdings in Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after purchasing an additional 2,998,228 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Bristol-Myers Squibb by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after purchasing an additional 1,246,066 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares in the last quarter. Hedge funds and other 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.