Bristol-Myers Squibb (NYSE:BMY) Trading 0.8% Higher

Bristol-Myers Squibb (NYSE:BMY)’s share price traded up 0.8% during mid-day trading on Thursday . The company traded as high as $47.15 and last traded at $46.88. 2,051,235 shares changed hands during trading, a decline of 87% from the average session volume of 15,892,616 shares. The stock had previously closed at $46.50.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Barclays downgraded shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective on the stock. in a report on Monday, July 29th. BMO Capital Markets decreased their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Finally, Wells Fargo & Company boosted 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. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $55.79.

Bristol-Myers Squibb Stock Performance

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 market cap of $94.71 billion, a PE ratio of -15.07, a P/E/G ratio of 12.51 and a beta of 0.44. The stock’s 50 day simple moving average is $43.02 and its two-hundred day simple moving average is $46.65.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter last year, the firm posted $1.75 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of large investors have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its holdings in Bristol-Myers Squibb by 532.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after acquiring an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. grew its holdings in Bristol-Myers Squibb by 1.0% during the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after acquiring an additional 296 shares in the last quarter. Great Diamond Partners LLC grew its holdings in Bristol-Myers Squibb by 9.2% during the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after acquiring an additional 367 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $5,161,000. Finally, Principal Securities Inc. acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $1,139,000. 76.41% of the stock is owned by institutional investors and hedge funds.

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.