Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.2% – What’s Next?

Bristol-Myers Squibb (NYSE:BMY) shares dropped 0.2% during mid-day trading on Thursday . The company traded as low as $58.31 and last traded at $58.31. Approximately 2,190,655 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 14,390,349 shares. The stock had previously closed at $58.41.

Analyst Upgrades and Downgrades

BMY has been the subject of several research reports. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Citigroup boosted their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $73.00 in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Price Performance

The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The business’s 50-day simple moving average is $52.41 and its two-hundred day simple moving average is $47.07. The stock has a market cap of $118.61 billion, a price-to-earnings ratio of -16.24, a price-to-earnings-growth ratio of 21.34 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $2.00 earnings per share. Research analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Insider Activity at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently modified their holdings of the company. Reston Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter worth $25,000. Hollencrest Capital Management lifted its position in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the period. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at about $27,000. Kennebec Savings Bank purchased a new stake in Bristol-Myers Squibb in the third quarter worth about $28,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $29,000. 76.41% of the stock is owned by hedge funds and other 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.