Bristol-Myers Squibb (NYSE:BMY) Shares Down 7.5%

Bristol-Myers Squibb (NYSE:BMY) shares fell 7.5% during trading on Thursday . The stock traded as low as $44.95 and last traded at $45.18. 15,564,589 shares changed hands during trading, an increase of 0% from the average session volume of 15,510,752 shares. The stock had previously closed at $48.86.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Finally, BMO Capital Markets cut their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday. One 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Trading Up 0.4 %

The business’s 50-day simple moving average is $51.03 and its 200-day simple moving average is $51.18. The company has a market cap of $90.92 billion, a price-to-earnings ratio of -14.47, a PEG ratio of 16.25 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY) last announced its 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. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. Research analysts predict that Bristol-Myers Squibb will post 0.55 earnings per share 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several large investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb during the third quarter worth approximately $25,000. Milestone Investment Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth about $27,000. Northwest Financial Advisors acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $27,000. Blue Bell Private Wealth Management LLC increased its position in Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Accordant Advisory Group Inc acquired a new position in Bristol-Myers Squibb during the first quarter valued at approximately $31,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.