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

Bristol-Myers Squibb (NYSE:BMY)’s stock price dropped 0.4% during mid-day trading on Friday . The company traded as low as $50.77 and last traded at $51.22. Approximately 2,404,170 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 16,252,496 shares. The stock had previously closed at $51.40.

Wall Street Analyst Weigh In

BMY has been the subject of a number of recent research reports. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday. Wells Fargo & Company decreased their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. Societe Generale cut 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. Finally, Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.12.

Bristol-Myers Squibb Trading Down 0.6 %

The stock has a market cap of $103.57 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.57 and a beta of 0.39. The firm’s 50 day moving average is $51.15 and its two-hundred day moving average is $52.20. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating 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 company had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter last year, the business earned $1.82 earnings per share. Bristol-Myers Squibb’s revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.70%. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Bristol-Myers Squibb declared that its board has initiated a stock repurchase plan on Thursday, December 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently modified their holdings of the business. Brown Shipley& Co Ltd increased its stake in Bristol-Myers Squibb by 1.8% in the second quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 164 shares during the period. Riversedge Advisors LLC grew its stake in Bristol-Myers Squibb by 3.2% during the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 178 shares during the last quarter. Vicus Capital lifted its position in shares of Bristol-Myers Squibb by 3.9% during the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 179 shares in the last quarter. Front Row Advisors LLC lifted its holdings in Bristol-Myers Squibb by 17.5% in the fourth quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 182 shares during the period. Finally, Cassia Capital Partners LLC lifted its holdings in Bristol-Myers Squibb by 2.3% in the third quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock valued at $460,000 after buying an additional 182 shares during the period. 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.