Bristol-Myers Squibb (NYSE:BMY) Shares Down 1%

Bristol-Myers Squibb (NYSE:BMY) shares fell 1% during mid-day trading on Monday . The stock traded as low as $40.01 and last traded at $40.04. 3,035,232 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 15,593,799 shares. The stock had previously closed at $40.46.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BMY. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Barclays cut their target price 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. William Blair reiterated 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 Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, BMO Capital Markets cut their target price 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 equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $59.07.

Bristol-Myers Squibb Trading Up 4.8 %

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 market capitalization of $87.50 billion, a P/E ratio of -13.80, a P/E/G ratio of 14.52 and a beta of 0.44. The firm has a 50-day moving average of $41.79 and a two-hundred day moving average of $47.19.

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 during the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Bristol-Myers Squibb will post 0.55 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.56%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC grew its stake in Bristol-Myers Squibb by 69.5% during the fourth quarter. Sound Income Strategies LLC now owns 1,639 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 672 shares during the period. Strategic Investment Advisors MI acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $423,000. BKM Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $258,000. Bruce G. Allen Investments LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $141,000. Finally, Grassi Investment Management grew its stake in Bristol-Myers Squibb by 0.3% during the fourth quarter. Grassi Investment Management now owns 108,860 shares of the biopharmaceutical company’s stock worth $5,586,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

About Bristol-Myers Squibb

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.