Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.5%

Shares of Bristol-Myers Squibb (NYSE:BMY) traded down 0.5% on Wednesday . The company traded as low as $48.24 and last traded at $48.26. 11,931,277 shares were traded during trading, an increase of 9% from the average session volume of 10,940,481 shares. The stock had previously closed at $48.51.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMY. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Wells Fargo & Company lowered their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Trading Down 0.5 %

The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $51.27 and a 200-day moving average price of $51.62. The company has a market capitalization of $97.81 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.46 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The company had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 EPS. Research analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb during the third quarter valued at approximately $25,000. True Wealth Design LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $26,000. Milestone Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth about $27,000. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb during the 4th quarter worth $27,000. Finally, Coppell Advisory Solutions LLC acquired a new position in Bristol-Myers Squibb in the 2nd quarter valued at $28,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Company Profile

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.