Bristol-Myers Squibb (NYSE:BMY) Shares Up 1.8%

Bristol-Myers Squibb (NYSE:BMY)’s stock price rose 1.8% during trading on Wednesday . The stock traded as high as $43.04 and last traded at $42.94. Approximately 3,982,096 shares were traded during trading, a decline of 74% from the average daily volume of 15,579,179 shares. The stock had previously closed at $42.19.

Analyst Upgrades and Downgrades

BMY has been the subject of several research reports. Barclays cut 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 note on Friday, April 26th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, BMO Capital Markets dropped 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 report on Friday, April 26th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Performance

The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The stock’s 50-day moving average is $43.25 and its 200 day moving average is $48.27. The stock has a market cap of $84.12 billion, a price-to-earnings ratio of -13.39, a P/E/G ratio of 14.28 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. As a group, analysts predict that Bristol-Myers Squibb will post 0.59 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, August 1st. Stockholders of record on Friday, July 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.78%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia lifted its holdings in shares of Bristol-Myers Squibb by 13.7% during the 3rd quarter. Bank of Nova Scotia now owns 208,970 shares of the biopharmaceutical company’s stock valued at $12,129,000 after acquiring an additional 25,153 shares in the last quarter. Morningstar Investment Services LLC lifted its holdings in shares of Bristol-Myers Squibb by 87.4% during the 3rd quarter. Morningstar Investment Services LLC now owns 7,849 shares of the biopharmaceutical company’s stock valued at $456,000 after acquiring an additional 3,660 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Bristol-Myers Squibb by 3.6% during the 3rd quarter. CWA Asset Management Group LLC now owns 8,107 shares of the biopharmaceutical company’s stock valued at $471,000 after acquiring an additional 283 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 1,004.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 94,351 shares of the biopharmaceutical company’s stock valued at $5,476,000 after acquiring an additional 85,812 shares in the last quarter. Finally, Waverly Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 11.5% during the 3rd quarter. Waverly Advisors LLC now owns 10,485 shares of the biopharmaceutical company’s stock valued at $609,000 after acquiring an additional 1,078 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

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.