Bristol-Myers Squibb (NYSE:BMY) Trading Down 0.4% – Here’s Why

Bristol-Myers Squibb (NYSE:BMY) shares traded down 0.4% during mid-day trading on Tuesday . The company traded as low as $59.52 and last traded at $59.59. 2,953,770 shares were traded during mid-day trading, a decline of 79% from the average session volume of 14,404,904 shares. The stock had previously closed at $59.82.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. UBS Group boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Morgan Stanley lifted their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Trading Up 0.1 %

The business’s 50-day moving average price is $52.41 and its 200 day moving average price is $47.07. The firm has a market capitalization of $118.63 billion, a price-to-earnings ratio of -16.24, a PEG ratio of 21.34 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the firm earned $2.00 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.10%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMY. Atomi Financial Group Inc. acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $231,000. TD Asset Management Inc boosted its position in shares of Bristol-Myers Squibb by 2.7% in the first quarter. TD Asset Management Inc now owns 1,648,245 shares of the biopharmaceutical company’s stock worth $89,384,000 after buying an additional 42,682 shares during the period. HBK Sorce Advisory LLC lifted its position in shares of Bristol-Myers Squibb by 3.7% in the first quarter. HBK Sorce Advisory LLC now owns 32,578 shares of the biopharmaceutical company’s stock worth $1,767,000 after purchasing an additional 1,159 shares in the last quarter. Wintrust Investments LLC lifted its position in Bristol-Myers Squibb by 9.7% in the 1st quarter. Wintrust Investments LLC now owns 39,652 shares of the biopharmaceutical company’s stock worth $2,150,000 after buying an additional 3,515 shares in the last quarter. Finally, TCTC Holdings LLC raised its stake in shares of Bristol-Myers Squibb by 0.9% during the 1st quarter. TCTC Holdings LLC now owns 443,544 shares of the biopharmaceutical company’s stock worth $24,053,000 after purchasing an additional 3,909 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

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.