Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.4%

Bristol-Myers Squibb (NYSE:BMYGet Free Report)’s share price dropped 0.4% during trading on Tuesday . The stock traded as low as $40.35 and last traded at $40.81. Approximately 4,289,295 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 15,357,249 shares. The stock had previously closed at $40.97.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent analyst reports. Barclays cut their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $60.00.

Check Out Our Latest Report on Bristol-Myers Squibb

Bristol-Myers Squibb Trading Down 0.1 %

The business has a fifty day simple moving average of $44.30 and a 200-day simple moving average of $48.67. The firm has a market cap of $82.93 billion, a price-to-earnings ratio of -13.16, a PEG ratio of 13.95 and a beta of 0.43. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The business’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.87%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently made changes to their positions in the business. McClarren Financial Advisors Inc. boosted its holdings in Bristol-Myers Squibb by 532.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after acquiring an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. lifted its holdings in shares of Bristol-Myers Squibb by 1.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after purchasing an additional 296 shares in the last quarter. Great Diamond Partners LLC lifted its holdings in Bristol-Myers Squibb by 9.2% during the fourth quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after acquiring an additional 367 shares during the period. Principal Securities Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter worth $1,139,000. Finally, Sierra Summit Advisors LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter worth $755,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Company Profile

(Get Free Report)

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.

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