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

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMY. Truist Financial raised their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Citigroup raised 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. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald raised their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Performance

The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company has a market capitalization of $119.75 billion, a P/E ratio of -13.35, a P/E/G ratio of 2.07 and a beta of 0.43. The business’s fifty day simple moving average is $57.81 and its 200-day simple moving average is $55.57.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

A number of large investors have recently made changes to their positions in BMY. Pinney & Scofield Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $25,000. Park Square Financial Group LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at about $26,000. Fairway Wealth LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Transce3nd LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Finally, Darwin Wealth Management LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $29,000. 76.41% of the stock is currently owned by 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.