Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.6%

Bristol-Myers Squibb (NYSE:BMY) shares fell 0.6% during mid-day trading on Tuesday . The stock traded as low as $47.89 and last traded at $47.93. 1,235,053 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 15,532,924 shares. The stock had previously closed at $48.24.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BMY. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Barclays boosted their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.93.

Bristol-Myers Squibb Stock Performance

The firm has a market capitalization of $97.54 billion, a price-to-earnings ratio of -15.52, a P/E/G ratio of 12.51 and a beta of 0.44. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The stock has a 50-day moving average price of $44.52 and a 200 day moving average price of $46.56.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the previous year, the company posted $1.75 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several institutional investors have recently added to or reduced their stakes in the business. Capital International Investors lifted its stake 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 worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the last quarter. Norges Bank purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $1,560,524,000. Primecap Management Co. CA lifted its stake in Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after purchasing an additional 2,998,228 shares during the last quarter. Legal & General Group Plc lifted its stake in Bristol-Myers Squibb by 3.8% during the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock worth $839,946,000 after purchasing an additional 735,613 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Bristol-Myers Squibb by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after purchasing an additional 1,246,066 shares during the last quarter. Hedge funds and other institutional investors 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.