Bristol-Myers Squibb (NYSE:BMY) Shares Up 0.8%

Bristol-Myers Squibb (NYSE:BMY)’s share price was up 0.8% during trading on Wednesday . The stock traded as high as $44.47 and last traded at $44.28. Approximately 3,862,900 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 15,845,756 shares. The stock had previously closed at $43.94.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BMY. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. BMO Capital Markets reduced their price objective 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. Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Price Performance

The company has a 50 day moving average price of $50.52 and a 200 day moving average price of $50.84. 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 company has a market capitalization of $89.17 billion, a P/E ratio of -14.19, a P/E/G ratio of 14.90 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The company 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%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 EPS. On average, equities analysts predict that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BMY. J.W. Cole Advisors Inc. lifted its stake in Bristol-Myers Squibb by 9.3% during the third quarter. J.W. Cole Advisors Inc. now owns 29,058 shares of the biopharmaceutical company’s stock worth $1,687,000 after purchasing an additional 2,468 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in Bristol-Myers Squibb in the third quarter valued at about $39,000. NorthRock Partners LLC grew its position in Bristol-Myers Squibb by 6.3% in the third quarter. NorthRock Partners LLC now owns 10,506 shares of the biopharmaceutical company’s stock valued at $610,000 after acquiring an additional 624 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Bristol-Myers Squibb by 1.6% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 1,024,654 shares of the biopharmaceutical company’s stock worth $59,471,000 after acquiring an additional 16,400 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Bristol-Myers Squibb by 143.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,308 shares of the biopharmaceutical company’s stock valued at $192,000 after purchasing an additional 1,948 shares in the last quarter. Institutional investors and hedge funds 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.