Bristol-Myers Squibb (NYSE:BMY) Shares Up 1.2%

Bristol-Myers Squibb (NYSE:BMY)’s stock price shot up 1.2% during mid-day trading on Friday . The company traded as high as $49.54 and last traded at $48.77. 4,586,805 shares changed hands during trading, a decline of 71% from the average session volume of 15,893,988 shares. The stock had previously closed at $48.17.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Finally, BMO Capital Markets reduced their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $55.79.

Bristol-Myers Squibb Stock Performance

The company has a market cap of $98.96 billion, a P/E ratio of -15.69, a PEG ratio of 12.24 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 company has a 50 day moving average price of $42.24 and a 200-day moving average price of $46.76.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.75 earnings per share. Equities analysts expect that Bristol-Myers Squibb will post 0.78 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 4.92%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several hedge funds have recently added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth $27,000. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb in the 4th quarter worth about $27,000. Accordant Advisory Group Inc bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. bought a new position in Bristol-Myers Squibb in the 4th quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $40,000. Institutional investors own 76.41% of the company’s stock.

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.