Bristol-Myers Squibb (NYSE:BMY) Stock Price Down 0.8%

Bristol-Myers Squibb (NYSE:BMY) fell 0.8% during mid-day trading on Tuesday . The stock traded as low as $40.86 and last traded at $40.92. 3,051,977 shares changed hands during trading, a decline of 80% from the average session volume of 15,396,761 shares. The stock had previously closed at $41.24.

Wall Street Analyst Weigh In

Several research firms have issued reports on BMY. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. BMO Capital Markets dropped their price objective 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. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Finally, Barclays dropped their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. One investment 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

The stock has a market capitalization of $82.26 billion, a price-to-earnings ratio of -13.20, a P/E/G ratio of 13.96 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. The business’s 50 day simple moving average is $47.59 and its 200-day simple moving average is $49.56.

Bristol-Myers Squibb (NYSE:BMY) last announced 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% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. On average, research analysts forecast that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.91%. 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. Assenagon Asset Management S.A. lifted its holdings in shares of Bristol-Myers Squibb by 4.3% in the third quarter. Assenagon Asset Management S.A. now owns 95,081 shares of the biopharmaceutical company’s stock worth $5,519,000 after acquiring an additional 3,907 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 6.1% in the third quarter. Cornerstone Wealth Management LLC now owns 15,729 shares of the biopharmaceutical company’s stock worth $913,000 after acquiring an additional 900 shares during the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Bristol-Myers Squibb by 56.6% in the third quarter. Nicolet Advisory Services LLC now owns 12,657 shares of the biopharmaceutical company’s stock worth $718,000 after acquiring an additional 4,573 shares during the last quarter. South Dakota Investment Council lifted its holdings in shares of Bristol-Myers Squibb by 25.2% in the third quarter. South Dakota Investment Council now owns 177,975 shares of the biopharmaceutical company’s stock worth $10,330,000 after acquiring an additional 35,858 shares during the last quarter. Finally, Fort Pitt Capital Group LLC raised its holdings in Bristol-Myers Squibb by 10.1% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 969,344 shares of the biopharmaceutical company’s stock valued at $56,261,000 after buying an additional 88,790 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

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.