Bristol-Myers Squibb (NYSE:BMY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Bristol-Myers Squibb (NYSE:BMY) have been assigned a consensus rating of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $60.00.

A number of equities analysts have commented on BMY shares. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Barclays reduced their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets reduced 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 note on Friday, April 26th. Finally, Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th.

Bristol-Myers Squibb Stock Performance

BMY opened at $44.04 on Friday. The firm has a market capitalization of $89.27 billion, a PE ratio of -14.21, a PEG ratio of 14.82 and a beta of 0.45. Bristol-Myers Squibb has a twelve month low of $43.33 and a twelve month high of $69.10. The firm’s 50-day moving average price is $50.11 and its 200 day moving average price is $50.48. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth $1,560,524,000. Pzena Investment Management LLC raised its position in Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after buying an additional 6,701,097 shares during the last quarter. Van ECK Associates Corp raised its position in Bristol-Myers Squibb by 97.2% during the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after buying an additional 3,918,234 shares during the last quarter. Primecap Management Co. CA raised 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 buying an additional 2,998,228 shares during the last quarter. Finally, Pacer Advisors Inc. raised 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 buying an additional 2,540,360 shares during the last quarter. Institutional investors and hedge funds 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.