Bristol-Myers Squibb (NYSE:BMY) Stock Price Up 2.4%

Shares of Bristol-Myers Squibb (NYSE:BMY) rose 2.4% on Monday . The stock traded as high as $42.39 and last traded at $42.06. Approximately 4,120,788 shares changed hands during trading, a decline of 74% from the average daily volume of 15,550,587 shares. The stock had previously closed at $41.09.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research reports. Wells Fargo & Company increased their price target 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. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Barclays cut their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Up 2.3 %

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 50 day simple moving average of $46.69 and a 200 day simple moving average of $49.27. The firm has a market capitalization of $85.18 billion, a PE ratio of -13.57, a PEG ratio of 13.91 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. 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 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Milestone Investment Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter worth $27,000. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter worth about $27,000. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $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 position in shares of Bristol-Myers Squibb in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.