Bristol-Myers Squibb (NYSE:BMY) Sets New 1-Year Low at $39.38

Shares of Bristol-Myers Squibb (NYSE:BMY) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $39.38 and last traded at $39.61, with a volume of 960480 shares. The stock had previously closed at $39.46.

Analyst Ratings Changes

A number of analysts have recently commented on the company. 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 report on Friday, April 26th. Barclays reduced their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Trading Down 1.4 %

The firm has a market capitalization of $80.09 billion, a P/E ratio of -12.92, a P/E/G ratio of 13.71 and a beta of 0.44. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The firm has a 50-day moving average of $42.37 and a two-hundred day moving average of $47.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the company earned $2.05 EPS. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 6.07%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $27,000. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the 1st quarter worth $27,000. Accordant Advisory Group Inc acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $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.