Bristol-Myers Squibb (NYSE:BMY) Sets New 52-Week Low at $43.73

Bristol-Myers Squibb (NYSE:BMY) reached a new 52-week low on Wednesday . The stock traded as low as $43.73 and last traded at $43.78, with a volume of 1107105 shares. The stock had previously closed at $43.94.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Finally, BMO Capital Markets dropped their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. 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 company’s stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Up 0.6 %

The stock’s fifty day simple moving average is $50.81 and its two-hundred day simple moving average is $50.93. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The stock has a market capitalization of $89.58 billion, a P/E ratio of -14.28, a price-to-earnings-growth ratio of 15.39 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Bristol-Myers Squibb will post 0.58 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. Stockholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.43%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Trading of Bristol-Myers Squibb

Institutional investors and hedge funds have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA increased its holdings in Bristol-Myers Squibb by 459.8% during the third quarter. Compagnie Lombard Odier SCmA now owns 2,435 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 2,000 shares during the last quarter. Vicus Capital increased its holdings in 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 buying an additional 179 shares during the last quarter. Gould Asset Management LLC CA increased its holdings in Bristol-Myers Squibb by 11.7% during the third quarter. Gould Asset Management LLC CA now owns 9,520 shares of the biopharmaceutical company’s stock worth $553,000 after buying an additional 1,000 shares during the last quarter. FinTrust Capital Advisors LLC increased its holdings in Bristol-Myers Squibb by 5.2% during the third quarter. FinTrust Capital Advisors LLC now owns 55,116 shares of the biopharmaceutical company’s stock worth $3,199,000 after buying an additional 2,714 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD increased its holdings in Bristol-Myers Squibb by 1.5% during the third quarter. Mount Vernon Associates Inc. MD now owns 27,480 shares of the biopharmaceutical company’s stock worth $1,595,000 after buying an additional 411 shares during the last quarter. Hedge funds and other 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.