Bristol-Myers Squibb (NYSE:BMY) Stock Price Up 0%

Bristol-Myers Squibb (NYSE:BMY)’s stock price rose 0% on Monday . The stock traded as high as $42.93 and last traded at $42.66. Approximately 2,217,639 shares changed hands during trading, a decline of 86% from the average daily volume of 15,623,663 shares. The stock had previously closed at $42.64.

Wall Street Analyst Weigh In

BMY has been the topic of several research analyst reports. Barclays dropped their target price on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. BMO Capital Markets dropped their target price on shares of 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. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.40.

Bristol-Myers Squibb Price Performance

The stock’s fifty day moving average is $41.68 and its 200-day moving average is $46.99. The stock has a market capitalization of $86.50 billion, a PE ratio of -13.81, a P/E/G ratio of 15.55 and a beta of 0.44. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly 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 negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.55 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMY. Norges Bank purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $1,560,524,000. Capital International Investors lifted its holdings in Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. M&G Plc purchased a new position in Bristol-Myers Squibb during the first quarter valued at $392,608,000. Pzena Investment Management LLC lifted its holdings in Bristol-Myers Squibb by 119.8% during the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after purchasing an additional 6,701,097 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after buying an additional 5,461,767 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

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.