Bristol-Myers Squibb (NYSE:BMY) Plans Quarterly Dividend of $0.62

Bristol-Myers Squibb (NYSE:BMY) announced a quarterly dividend on Wednesday, December 11th,RTT News reports. Stockholders of record on Friday, January 3rd will be paid a dividend of 0.62 per share by the biopharmaceutical company on Monday, February 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.38%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60.

Bristol-Myers Squibb has decreased its dividend by an average of 0.2% per year over the last three years and has raised its dividend annually for the last 16 consecutive years. Bristol-Myers Squibb has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bristol-Myers Squibb to earn $7.17 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 33.5%.

Bristol-Myers Squibb Trading Down 2.5 %

Shares of NYSE:BMY opened at $56.65 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The business has a 50 day moving average of $55.78 and a two-hundred day moving average of $49.12. The company has a market capitalization of $114.90 billion, a PE ratio of -15.78, a PEG ratio of 15.93 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.00 EPS. As a group, analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Insider Buying and Selling

In related news, 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 value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction dated 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 purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BMY. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Wolfe Research began coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Barclays boosted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, TD Cowen boosted their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $54.29.

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.