Bristol-Myers Squibb (NYSE:BMY) Shares Gap Down – Should You Sell?

Bristol-Myers Squibb (NYSE:BMY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $59.71, but opened at $57.37. Bristol-Myers Squibb shares last traded at $58.87, with a volume of 4,110,314 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BMY shares. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Wolfe Research started coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Morgan Stanley upped their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. BMO Capital Markets upped their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Down 0.8 %

The company’s 50-day moving average is $57.56 and its two-hundred day moving average is $53.75. 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 company has a market cap of $115.51 billion, a P/E ratio of -15.86, a P/E/G ratio of 2.10 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.35%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its position in Bristol-Myers Squibb by 6.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 151,700 shares of the biopharmaceutical company’s stock worth $8,580,000 after acquiring an additional 8,745 shares during the period. Moors & Cabot Inc. raised its holdings in Bristol-Myers Squibb by 14.9% in the 4th quarter. Moors & Cabot Inc. now owns 89,229 shares of the biopharmaceutical company’s stock worth $5,047,000 after purchasing an additional 11,578 shares during the period. Natural Investments LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $393,000. AGF Management Ltd. increased its position in Bristol-Myers Squibb by 8.2% in the fourth quarter. AGF Management Ltd. now owns 607,064 shares of the biopharmaceutical company’s stock worth $34,336,000 after buying an additional 45,901 shares in the last quarter. Finally, Fairway Wealth LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $28,000. Hedge funds and other institutional investors 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.