Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.1%

Shares of Bristol-Myers Squibb (NYSE:BMY) dropped 0.1% on Tuesday . The stock traded as low as $43.97 and last traded at $44.59. Approximately 3,674,759 shares were traded during trading, a decline of 77% from the average daily volume of 15,820,087 shares. The stock had previously closed at $44.64.

Analysts Set New Price Targets

BMY has been the subject of several recent research reports. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Wells Fargo & Company boosted their price objective 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. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Trading Down 1.6 %

The company has a fifty day simple moving average of $50.93 and a two-hundred day simple moving average of $51.02. 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 company has a market cap of $89.07 billion, a PE ratio of -14.38, a P/E/G ratio of 15.47 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating 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 the consensus estimate of $11.45 billion. During the same quarter in the prior year, the business posted $2.05 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts anticipate that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.46%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Trading of Bristol-Myers Squibb

A number of large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $1,560,524,000. Van ECK Associates Corp lifted its position in Bristol-Myers Squibb by 792.6% during the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after acquiring an additional 3,579,324 shares during the period. Primecap Management Co. CA lifted its position in Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after acquiring an additional 2,998,228 shares during the period. Pacer Advisors Inc. lifted its position in Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after acquiring an additional 2,540,360 shares during the period. Finally, Franklin Resources Inc. lifted its position in Bristol-Myers Squibb by 36.7% during the 4th quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after acquiring an additional 2,510,134 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

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.