Bristol-Myers Squibb (NYSE:BMY) Trading Down 0.5%

Bristol-Myers Squibb (NYSE:BMY) fell 0.5% during mid-day trading on Wednesday . The company traded as low as $48.24 and last traded at $48.26. 11,931,277 shares changed hands during trading, an increase of 9% from the average session volume of 10,940,481 shares. The stock had previously closed at $48.51.

Analyst Ratings Changes

A number of brokerages have issued reports on BMY. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Wells Fargo & Company lifted their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Price Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The company has a 50-day simple moving average of $51.25 and a 200-day simple moving average of $51.57. The company has a market cap of $97.73 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.44 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the company earned $1.82 EPS. Bristol-Myers Squibb’s revenue was up .6% on a year-over-year basis. As a group, research analysts predict that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.98%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Institutional Trading of Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Riversedge Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 3.2% during the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 178 shares during the last quarter. Vicus Capital increased its holdings 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 purchasing an additional 179 shares in the last quarter. Cassia Capital Partners LLC increased its holdings in Bristol-Myers Squibb by 2.3% in the 3rd quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock valued at $460,000 after purchasing an additional 182 shares in the last quarter. Lindbrook Capital LLC increased its holdings 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 purchasing an additional 182 shares in the last quarter. Finally, Front Row Advisors LLC increased its holdings in Bristol-Myers Squibb by 17.5% in the 4th quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 182 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.