Bristol-Myers Squibb (NYSE:BMY) Stock Price Up 0.4% on Better-Than-Expected Earnings

Bristol-Myers Squibb (NYSE:BMY) was up 0.4% during trading on Monday following a stronger than expected earnings report. The stock traded as high as $51.19 and last traded at $50.67. Approximately 6,200,052 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 15,851,076 shares. The stock had previously closed at $50.45.

The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 11.52%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.75 EPS.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 4.74%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. BMO Capital Markets dropped their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Finally, Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective for the company. in a research report on Monday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.79.

Institutional Trading of Bristol-Myers Squibb

Institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its stake in Bristol-Myers Squibb by 3.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 98,394 shares of the biopharmaceutical company’s stock valued at $5,049,000 after acquiring an additional 3,313 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Bristol-Myers Squibb by 4.8% during the fourth quarter. Ritholtz Wealth Management now owns 15,665 shares of the biopharmaceutical company’s stock worth $804,000 after purchasing an additional 720 shares during the period. PFG Advisors grew its position in Bristol-Myers Squibb by 6.1% in the 4th quarter. PFG Advisors now owns 5,649 shares of the biopharmaceutical company’s stock valued at $290,000 after buying an additional 323 shares during the last quarter. Secure Asset Management LLC increased its stake in Bristol-Myers Squibb by 6.1% in the 4th quarter. Secure Asset Management LLC now owns 4,956 shares of the biopharmaceutical company’s stock valued at $254,000 after buying an additional 285 shares during the period. Finally, Wendell David Associates Inc. raised its position in Bristol-Myers Squibb by 4.5% during the 4th quarter. Wendell David Associates Inc. now owns 19,952 shares of the biopharmaceutical company’s stock worth $1,024,000 after buying an additional 853 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

The company has a market cap of $102.71 billion, a price-to-earnings ratio of -16.35, a PEG ratio of 17.25 and a beta of 0.44. The company’s 50 day moving average price is $41.76 and its 200 day moving average price is $46.76. 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 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.