Bristol-Myers Squibb (NYSE:BMY) Shares Up 0.3%

Shares of Bristol-Myers Squibb (NYSE:BMY) shot up 0.3% during mid-day trading on Tuesday . The company traded as high as $44.20 and last traded at $44.02. 2,495,695 shares were traded during mid-day trading, a decline of 84% from the average session volume of 15,682,183 shares. The stock had previously closed at $43.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BMY shares. 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 report on Thursday, April 18th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. BMO Capital Markets cut their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Up 0.3 %

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 capitalization of $89.27 billion, a price-to-earnings ratio of -14.20, a price-to-earnings-growth ratio of 14.82 and a beta of 0.45. The business has a 50-day moving average price of $50.24 and a 200-day moving average price of $50.57.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the company posted $2.05 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors have recently modified their holdings of the stock. NTV Asset Management LLC increased its holdings in Bristol-Myers Squibb by 9.4% in the first quarter. NTV Asset Management LLC now owns 33,706 shares of the biopharmaceutical company’s stock worth $1,828,000 after buying an additional 2,884 shares during the last quarter. Forsta AP Fonden raised its holdings in Bristol-Myers Squibb by 5.7% in the first quarter. Forsta AP Fonden now owns 548,400 shares of the biopharmaceutical company’s stock worth $29,740,000 after purchasing an additional 29,600 shares during the period. Lipe & Dalton grew its holdings in shares of Bristol-Myers Squibb by 0.8% in the 1st quarter. Lipe & Dalton now owns 58,681 shares of the biopharmaceutical company’s stock valued at $3,182,000 after buying an additional 450 shares during the period. Gibraltar Capital Management Inc. grew its position in shares of Bristol-Myers Squibb by 42.2% in the 1st quarter. Gibraltar Capital Management Inc. now owns 110,072 shares of the biopharmaceutical company’s stock valued at $5,969,000 after purchasing an additional 32,691 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in Bristol-Myers Squibb by 13.8% during the first quarter. Oppenheimer & Co. Inc. now owns 218,849 shares of the biopharmaceutical company’s stock worth $11,868,000 after purchasing an additional 26,519 shares during the last quarter. Institutional investors and hedge funds 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.