Bristol-Myers Squibb (NYSE:BMY) Trading Down 0.9%

Bristol-Myers Squibb (NYSE:BMYGet Free Report)’s share price dropped 0.9% on Tuesday . The stock traded as low as $41.58 and last traded at $41.85. Approximately 2,351,857 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 15,561,347 shares. The stock had previously closed at $42.23.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays reduced their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. BMO Capital Markets reduced their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company raised their price objective 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. Finally, StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $60.00.

View Our Latest Stock Report on BMY

Bristol-Myers Squibb Trading Down 0.6 %

The firm has a market cap of $85.08 billion, a price-to-earnings ratio of -13.50, a PEG ratio of 14.02 and a beta of 0.43. The business has a fifty day moving average of $43.48 and a two-hundred day moving average of $48.37. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.6 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 5.72%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently modified their holdings of BMY. Abich Financial Wealth Management LLC lifted its stake in Bristol-Myers Squibb by 53.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,979 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 1,035 shares in the last quarter. Keynote Financial Services LLC acquired a new position in shares of Bristol-Myers Squibb in the first quarter worth $1,505,000. EverSource Wealth Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 94.9% during the first quarter. EverSource Wealth Advisors LLC now owns 4,992 shares of the biopharmaceutical company’s stock valued at $271,000 after acquiring an additional 2,431 shares during the last quarter. Hamilton Wealth LLC increased its position in Bristol-Myers Squibb by 106.3% during the 1st quarter. Hamilton Wealth LLC now owns 66,548 shares of the biopharmaceutical company’s stock worth $3,609,000 after purchasing an additional 34,284 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in Bristol-Myers Squibb in the 1st quarter valued at about $60,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

(Get Free Report)

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.

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