Bristol-Myers Squibb (NYSE:BMY) Shares Down 1.1%

Bristol-Myers Squibb (NYSE:BMY) shares were down 1.1% during mid-day trading on Wednesday . The company traded as low as $48.47 and last traded at $48.51. Approximately 1,596,718 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 15,874,820 shares. The stock had previously closed at $49.06.

Analyst Ratings Changes

A number of equities analysts have issued reports on BMY shares. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price for the company. in a report on Monday, July 29th. TD Cowen increased their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $54.86.

Bristol-Myers Squibb Stock Performance

The company has a market cap of $100.06 billion, a PE ratio of -15.85, a PEG ratio of 12.51 and a beta of 0.44. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a 50-day moving average of $43.58 and a 200-day moving average of $46.61.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 earnings per share. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.86%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital International Investors raised its stake in shares of Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $1,560,524,000. Primecap Management Co. CA raised its stake in shares of Bristol-Myers Squibb by 14.6% during the 4th 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 during the period. Legal & General Group Plc raised its stake in shares of Bristol-Myers Squibb by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after purchasing an additional 735,613 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Bristol-Myers Squibb by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after purchasing an additional 1,246,066 shares during the period. 76.41% of the stock is currently 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.