Bristol-Myers Squibb (NYSE:BMY) Shares Down 1.3%

Bristol-Myers Squibb (NYSE:BMY) dropped 1.3% during mid-day trading on Tuesday . The stock traded as low as $47.85 and last traded at $48.33. Approximately 5,982,271 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 15,893,912 shares. The stock had previously closed at $48.98.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BMY shares. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday. BMO Capital Markets reduced their target price 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.79.

Bristol-Myers Squibb Stock Performance

The business has a fifty day simple moving average of $41.87 and a two-hundred day simple moving average of $46.75. The company has a market cap of $99.41 billion, a PE ratio of -15.59, a price-to-earnings-growth ratio of 17.25 and a beta of 0.44. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 11.52% and a negative net margin of 14.06%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 earnings per share. Research analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several institutional investors have recently bought and sold shares of BMY. Norges Bank purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $1,560,524,000. Capital International Investors boosted its holdings in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares in the last quarter. M&G Plc purchased a new stake in shares of Bristol-Myers Squibb during the first quarter worth about $392,608,000. Pzena Investment Management LLC increased its holdings in shares of Bristol-Myers Squibb by 119.8% during the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after acquiring an additional 6,701,097 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.