Bristol-Myers Squibb Co (NYSE:BMY) declared a quarterly dividend on Wednesday, September 11th, RTT News reports. Shareholders of record on Friday, October 4th will be paid a dividend of 0.41 per share by the biopharmaceutical company on Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.31%.
Bristol-Myers Squibb has increased its dividend by an average of 2.6% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Bristol-Myers Squibb has a dividend payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bristol-Myers Squibb to earn $5.36 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 30.6%.
BMY stock traded up $0.28 during midday trading on Thursday, reaching $49.52. The stock had a trading volume of 1,718,898 shares, compared to its average volume of 15,978,581. The company’s fifty day simple moving average is $46.87 and its 200 day simple moving average is $47.14. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The company has a market cap of $80.55 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 2.37 and a beta of 0.70. Bristol-Myers Squibb has a 52-week low of $42.48 and a 52-week high of $63.69.
In other Bristol-Myers Squibb news, Director Robert J. Bertolini acquired 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of $44.72 per share, with a total value of $491,920.00. Following the transaction, the director now owns 11,397 shares of the company’s stock, valued at $509,673.84. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by company insiders.
A number of research analysts have weighed in on the company. Bank of America raised their price objective on Bristol-Myers Squibb from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Goldman Sachs Group assumed coverage on Bristol-Myers Squibb in a report on Tuesday, May 28th. They set a “buy” rating and a $54.00 price target on the stock. UBS Group reduced their price target on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, June 13th. ValuEngine upgraded Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a report on Monday, August 26th. Finally, Argus lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target on the stock. in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $55.74.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
Recommended Story: Diluted Earnings Per Share
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.