Bristol-Myers Squibb (NYSE:BMY) Shares Up 1.5%

Bristol-Myers Squibb (NYSE:BMY)’s share price shot up 1.5% on Tuesday . The company traded as high as $40.83 and last traded at $40.74. 2,205,880 shares changed hands during trading, a decline of 86% from the average session volume of 15,607,587 shares. The stock had previously closed at $40.15.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BMY shares. Barclays reduced their price objective on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, BMO Capital Markets reduced their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $59.07.

Bristol-Myers Squibb Stock Performance

The company’s 50-day moving average price is $41.84 and its two-hundred day moving average price is $47.26. The company has a market cap of $83.52 billion, a P/E ratio of -13.14, a price-to-earnings-growth ratio of 14.05 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.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the previous year, the firm posted $2.05 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.83%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Large investors have recently made changes to their positions in the company. Northwest Financial Advisors purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $27,000. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth about $27,000. Accordant Advisory Group Inc purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at about $31,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $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.