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

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

Analyst Ratings Changes

BMY has been the topic of a number of recent analyst reports. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. BMO Capital Markets dropped their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Up 0.2 %

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 stock has a market capitalization of $89.27 billion, a PE ratio of -14.21, a P/E/G ratio of 15.39 and a beta of 0.39. The stock’s fifty day simple moving average is $50.81 and its 200-day simple moving average is $50.93.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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 firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vicus Capital raised its stake in Bristol-Myers Squibb by 3.9% in the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 179 shares during the period. Lindbrook Capital LLC raised its stake in Bristol-Myers Squibb by 2.3% in the 3rd quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after acquiring an additional 182 shares during the period. Addison Advisors LLC raised its stake in Bristol-Myers Squibb by 6.6% in the 3rd quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 192 shares during the period. Symphony Financial Ltd. Co. raised its stake in Bristol-Myers Squibb by 4.1% in the 3rd quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock valued at $288,000 after acquiring an additional 194 shares during the period. Finally, Blue Bell Private Wealth Management LLC raised its stake in Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. 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.