Bristol-Myers Squibb Co (NYSE:BMY) announced a quarterly dividend on Thursday, June 11th, Zacks reports. Investors of record on Monday, July 6th will be paid a dividend of 0.45 per share by the biopharmaceutical company on Monday, August 3rd. This represents a $1.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, July 2nd.
Bristol-Myers Squibb has raised its dividend by an average of 90.7% per year over the last three years and has increased its dividend every year for the last 10 years. Bristol-Myers Squibb has a dividend payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Bristol-Myers Squibb to earn $7.35 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 24.5%.
Shares of NYSE:BMY opened at $57.80 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.51 and a current ratio of 1.66. The company has a market cap of $130.20 billion, a PE ratio of 71.36, a price-to-earnings-growth ratio of 1.11 and a beta of 0.73. Bristol-Myers Squibb has a 52 week low of $42.48 and a 52 week high of $68.34. The firm has a 50 day simple moving average of $59.82 and a 200 day simple moving average of $60.91.
In related news, EVP Louis S. Schmukler sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $62.68, for a total value of $1,567,000.00. Following the transaction, the executive vice president now directly owns 26,777 shares in the company, valued at approximately $1,678,382.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dinesh C. Paliwal bought 9,174 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $54.50 per share, for a total transaction of $499,983.00. Following the completion of the purchase, the director now directly owns 22,109 shares in the company, valued at approximately $1,204,940.50. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by company insiders.
BMY has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $66.00 price target for the company. in a research report on Thursday, April 16th. TheStreet downgraded shares of Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research report on Monday, April 13th. William Blair reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research report on Monday, June 1st. Cfra increased their target price on shares of Bristol-Myers Squibb from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Bristol-Myers Squibb presently has an average rating of “Buy” and an average target price of $68.00.
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.
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