Bristol-Myers Squibb (NYSE:BMY) Trading Up 0.2%

Bristol-Myers Squibb (NYSE:BMY) shares were up 0.2% during trading on Tuesday . The company traded as high as $52.51 and last traded at $52.34. Approximately 1,341,803 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 16,831,941 shares. The stock had previously closed at $52.25.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BMY shares. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, Wells Fargo & Company decreased their price objective on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Trading Up 1.3 %

The business’s 50 day moving average is $50.73 and its two-hundred day moving average is $52.43. 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 firm has a market capitalization of $107.92 billion, a P/E ratio of 13.80, a PEG ratio of 1.59 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the previous year, the business earned $1.82 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.51%. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Bristol-Myers Squibb declared that its Board of Directors has authorized a share buyback program on Thursday, December 7th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several institutional investors and hedge funds have recently bought and sold shares of the business. Herold Advisors Inc. lifted its holdings in Bristol-Myers Squibb by 3.2% in the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock worth $1,954,000 after purchasing an additional 1,051 shares during the last quarter. Osterweis Capital Management Inc. grew its position in Bristol-Myers Squibb by 69.6% in the second quarter. Osterweis Capital Management Inc. now owns 5,049 shares of the biopharmaceutical company’s stock valued at $323,000 after acquiring an additional 2,072 shares during the period. Kestra Private Wealth Services LLC grew its position in Bristol-Myers Squibb by 9.5% in the third quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock valued at $8,115,000 after acquiring an additional 12,121 shares during the period. Metis Global Partners LLC grew its holdings in shares of Bristol-Myers Squibb by 14.8% during the third quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after purchasing an additional 13,122 shares during the last quarter. Finally, Jmac Enterprises LLC grew its holdings in shares of Bristol-Myers Squibb by 11.4% during the third quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock worth $706,000 after purchasing an additional 1,245 shares during 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.