Bristol-Myers Squibb (NYSE:BMY) Shares Down 1.7% – Here’s What Happened

Bristol-Myers Squibb (NYSE:BMY) shares dropped 1.7% during trading on Friday . The company traded as low as $58.88 and last traded at $59.27. Approximately 2,411,478 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 12,628,064 shares. The stock had previously closed at $60.28.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Bank of America restated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup upped their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Down 2.1 %

The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company’s fifty day simple moving average is $57.81 and its 200 day simple moving average is $55.57. The firm has a market capitalization of $119.75 billion, a PE ratio of -13.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.20%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PKO Investment Management Joint Stock Co bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $905,000. Centaurus Financial Inc. increased its stake in shares of Bristol-Myers Squibb by 11.5% during the fourth quarter. Centaurus Financial Inc. now owns 12,175 shares of the biopharmaceutical company’s stock valued at $689,000 after purchasing an additional 1,256 shares in the last quarter. Anchor Pointe Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $234,000. Mattson Financial Services LLC increased its stake in shares of Bristol-Myers Squibb by 3,318.2% during the fourth quarter. Mattson Financial Services LLC now owns 752 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 730 shares in the last quarter. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $38,000. 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.