Bristol-Myers Squibb (NYSE:BMY) Stock Price Up 0.2%

Shares of Bristol-Myers Squibb (NYSE:BMY) were up 0.2% on Wednesday . The company traded as high as $41.01 and last traded at $40.96. Approximately 1,979,766 shares changed hands during trading, a decline of 87% from the average daily volume of 15,608,447 shares. The stock had previously closed at $40.86.

Analyst Ratings Changes

BMY has been the subject of several research analyst reports. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Wells Fargo & Company boosted their price objective 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. Barclays dropped their price target on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, BMO Capital Markets dropped 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 report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $59.50.

Bristol-Myers Squibb Stock Performance

The stock has a market cap of $82.81 billion, a PE ratio of -13.14, a P/E/G ratio of 14.07 and a beta of 0.44. The stock has a 50-day moving average of $41.99 and a 200 day moving average of $47.47. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently modified their holdings of the business. OLD National Bancorp IN raised its holdings in Bristol-Myers Squibb by 8.2% in the 2nd quarter. OLD National Bancorp IN now owns 205,801 shares of the biopharmaceutical company’s stock valued at $8,547,000 after buying an additional 15,680 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter worth approximately $23,505,000. BDF Gestion acquired a new stake in Bristol-Myers Squibb in the 2nd quarter valued at approximately $1,692,000. Talbot Financial LLC lifted its stake in Bristol-Myers Squibb by 12.7% during the second quarter. Talbot Financial LLC now owns 88,233 shares of the biopharmaceutical company’s stock worth $3,664,000 after purchasing an additional 9,964 shares in the last quarter. Finally, Juncture Wealth Strategies LLC boosted its position in shares of Bristol-Myers Squibb by 10.6% during the second quarter. Juncture Wealth Strategies LLC now owns 10,406 shares of the biopharmaceutical company’s stock worth $432,000 after buying an additional 1,000 shares during the period. 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.