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

Bristol-Myers Squibb (NYSE:BMY)’s stock price traded down 0.9% on Thursday . The stock traded as low as $41.88 and last traded at $42.10. 3,337,455 shares traded hands during trading, a decline of 79% from the average session volume of 15,608,453 shares. The stock had previously closed at $42.50.

Wall Street Analysts Forecast Growth

BMY has been the topic of several research reports. BMO Capital Markets cut their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. 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 research note on Thursday, April 18th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays decreased their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Up 0.0 %

The firm has a 50-day moving average price of $42.97 and a 200 day moving average price of $48.16. 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:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. Equities research analysts predict that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds have recently bought and sold shares of the stock. Northwest Financial Advisors acquired a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $27,000. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth $27,000. Accordant Advisory Group Inc purchased a new position in Bristol-Myers Squibb in the first quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.