Shares of Bristol-Myers Squibb (NYSE:BMY – Get Free Report) dropped 0.7% during trading on Monday . The company traded as low as $41.07 and last traded at $41.24. Approximately 17,425,500 shares changed hands during mid-day trading, an increase of 12% from the average daily volume of 15,524,405 shares. The stock had previously closed at $41.54.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the company. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Barclays cut their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.00.
Bristol-Myers Squibb Trading Down 0.7 %
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 firm’s fifty day moving average is $47.80 and its two-hundred day moving average is $49.62. The firm has a market capitalization of $83.60 billion, a PE ratio of -13.30, a PEG ratio of 13.96 and a beta of 0.45.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $11.45 billion. During the same period last year, the business posted $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Milestone Investment Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $27,000. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $27,000. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. Accordant Advisory Group Inc bought a new position in shares of Bristol-Myers Squibb in the first quarter worth about $31,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $34,000. 76.41% of the stock is owned by 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.