Bristol-Myers Squibb (NYSE:BMY) Stock Price Up 1.2%

Shares of Bristol-Myers Squibb (NYSE:BMY) shot up 1.2% during trading on Monday . The stock traded as high as $48.86 and last traded at $48.85. 3,402,161 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 15,830,479 shares. The stock had previously closed at $48.28.

Analyst Ratings Changes

BMY has been the topic of a number of research analyst reports. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Wells Fargo & Company decreased their price target on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. 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 company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Price Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The stock has a market cap of $97.83 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.39. The business’s fifty day simple moving average is $51.27 and its 200 day simple moving average is $51.62.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $11.19 billion. During the same quarter in the previous year, the business posted $1.82 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.97%. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the stock. Herold Advisors Inc. increased its position in shares of 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. 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 valued at $8,115,000 after buying an additional 12,121 shares during the last quarter. Metis Global Partners LLC grew its position in shares of 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 valued at $5,907,000 after buying an additional 13,122 shares during the last quarter. Jmac Enterprises LLC grew its position in shares of Bristol-Myers Squibb by 11.4% during the 3rd quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock valued at $706,000 after buying an additional 1,245 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Bristol-Myers Squibb by 0.5% during the 3rd quarter. Signaturefd LLC now owns 105,986 shares of the biopharmaceutical company’s stock valued at $6,151,000 after buying an additional 564 shares during 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.