Bristol-Myers Squibb (NYSE:BMY) Downgraded by StockNews.com

StockNews.com lowered shares of Bristol-Myers Squibb (NYSE:BMY) from a strong-buy rating to a buy rating in a research report report published on Thursday morning.

Several other research analysts have also recently weighed in on BMY. Societe Generale cut Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Monday, March 11th. William Blair restated a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets decreased their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating for the company in a research note on Friday, April 26th. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an equal weight rating in a research note on Thursday, April 18th. Finally, Barclays reduced their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating for the company in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of Hold and a consensus target price of $60.00.

Bristol-Myers Squibb Trading Down 2.4 %

Bristol-Myers Squibb stock opened at $41.50 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The business’s fifty day simple moving average is $43.25 and its two-hundred day simple moving average is $48.27. Bristol-Myers Squibb has a 12 month low of $39.63 and a 12 month high of $65.38. The company has a market capitalization of $84.12 billion, a price-to-earnings ratio of -13.39, a price-to-earnings-growth ratio of 14.28 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Trading of Bristol-Myers Squibb

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors boosted its stake in shares of Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares during the period. Norges Bank bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $1,560,524,000. Primecap Management Co. CA boosted its stake in shares of Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after acquiring an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Bristol-Myers Squibb by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after acquiring an additional 1,246,066 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.