Bristol-Myers Squibb (NYSE:BMY) Trading Down 0.1%

Bristol-Myers Squibb (NYSE:BMY) shares fell 0.1% during mid-day trading on Tuesday . The stock traded as low as $48.24 and last traded at $48.47. 2,283,553 shares were traded during trading, a decline of 86% from the average session volume of 15,765,754 shares. The stock had previously closed at $48.51.

Analyst Ratings Changes

Several research firms have recently issued reports on BMY. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, Wells Fargo & Company cut their price target 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. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Stock Performance

The stock has a 50 day moving average price of $51.29 and a two-hundred day moving average price of $51.69. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The company has a market cap of $98.22 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 1.78 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter last year, the business posted $1.82 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Analysts predict that Bristol-Myers Squibb will post 5.41 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several hedge funds have recently modified their holdings of BMY. Dakota Wealth Management bought a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $332,000. Covestor Ltd boosted its holdings in shares of Bristol-Myers Squibb by 111.5% during the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 1,082 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 53.2% during the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after acquiring an additional 57,444 shares during the period. Ergoteles LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at approximately $1,997,000. Finally, Mackenzie Financial Corp raised its position in shares of Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after buying an additional 68,018 shares in 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.