Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.1%

Bristol-Myers Squibb (NYSE:BMY) traded down 0.1% during mid-day trading on Monday . The stock traded as low as $43.91 and last traded at $43.93. 2,483,875 shares were traded during trading, a decline of 84% from the average session volume of 15,760,608 shares. The stock had previously closed at $43.99.

Analysts Set New Price Targets

BMY has been the subject of a number of recent research reports. BMO Capital Markets cut their price objective on shares of 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. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Barclays lowered their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, Wells Fargo & Company upped their price objective 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. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Stock Performance

The business has a 50 day simple moving average of $50.11 and a two-hundred day simple moving average of $50.48. The firm has a market cap of $88.52 billion, a PE ratio of -14.09, a price-to-earnings-growth ratio of 14.82 and a beta of 0.45. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS 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 company had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period last year, the business posted $2.05 EPS. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Institutional Trading of Bristol-Myers Squibb

Several hedge funds have recently modified their holdings of BMY. Norges Bank purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $1,560,524,000. Pzena Investment Management LLC lifted its stake in Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after acquiring an additional 6,701,097 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Bristol-Myers Squibb by 97.2% during the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after buying an additional 3,918,234 shares in the last quarter. Primecap Management Co. CA boosted its holdings in 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 valued at $1,207,549,000 after purchasing an additional 2,998,228 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after purchasing an additional 2,540,360 shares during the period. 76.41% of the stock is owned by hedge funds and other 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.