Bristol-Myers Squibb (NYSE:BMY) Stock Price Down 7.5%

Bristol-Myers Squibb (NYSE:BMY)’s share price dropped 7.5% on Thursday . The stock traded as low as $44.95 and last traded at $45.18. Approximately 15,564,589 shares traded hands during mid-day trading, an increase of 0% from the average daily volume of 15,510,752 shares. The stock had previously closed at $48.86.

Analysts Set New Price Targets

Several equities analysts have recently commented on BMY shares. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Wells Fargo & Company increased 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. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

The company has a market capitalization of $90.92 billion, a PE ratio of -14.47, a P/E/G ratio of 16.25 and a beta of 0.39. The firm has a fifty day simple moving average of $51.03 and a 200 day simple moving average of $51.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share 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 50.04%. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Bristol-Myers Squibb will post 0.55 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BMY. McClarren Financial Advisors Inc. lifted its position in shares of Bristol-Myers Squibb by 532.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 1,582 shares during the last quarter. Institute for Wealth Management LLC. increased its position in shares of Bristol-Myers Squibb by 1.0% during the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after purchasing an additional 296 shares in the last quarter. Herold Advisors Inc. increased its position in shares of Bristol-Myers Squibb by 3.2% during the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock worth $1,954,000 after purchasing an additional 1,051 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Bristol-Myers Squibb by 9.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after purchasing an additional 12,121 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in Bristol-Myers Squibb by 14.8% during the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after buying an additional 13,122 shares during the last quarter. 76.41% of the stock is owned by 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.