Bristol-Myers Squibb (NYSE:BMY) Shares Down 1.7%

Bristol-Myers Squibb (NYSE:BMY)’s stock price dropped 1.7% during trading on Monday . The stock traded as low as $47.78 and last traded at $47.93. Approximately 5,458,118 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 15,897,873 shares. The stock had previously closed at $48.77.

Analyst Upgrades and Downgrades

BMY has been the subject of several recent research reports. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price on the stock. in a research report on Monday, July 29th. Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.79.

Bristol-Myers Squibb Stock Performance

The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $96.50 billion, a PE ratio of -15.41, a PEG ratio of 12.51 and a beta of 0.44. The firm’s 50-day simple moving average is $42.39 and its two-hundred day simple moving average is $46.70.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the previous year, the company posted $1.75 EPS. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BMY. McClarren Financial Advisors Inc. grew its stake in Bristol-Myers Squibb by 532.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 1,582 shares during the last quarter. Institute for Wealth Management LLC. lifted its stake in shares of Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after acquiring an additional 296 shares during the last quarter. Great Diamond Partners LLC raised its position in Bristol-Myers Squibb by 9.2% during the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 367 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Bristol-Myers Squibb in the 1st quarter worth about $5,161,000. Finally, Principal Securities Inc. bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth about $1,139,000. Institutional investors 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.