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

Shares of Bristol-Myers Squibb (NYSE:BMY) rose 0.5% during trading on Thursday . The company traded as high as $43.98 and last traded at $43.91. Approximately 1,771,306 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 15,584,371 shares. The stock had previously closed at $43.67.

Analysts Set New Price Targets

A number of brokerages have recently commented on BMY. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Finally, BMO Capital Markets cut their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Up 2.5 %

The firm’s 50-day moving average price is $49.96 and its 200 day moving average price is $50.43. The company has a market capitalization of $90.71 billion, a price-to-earnings ratio of -14.43, a PEG ratio of 14.82 and a beta of 0.45. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates 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 firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 EPS. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors have recently modified their holdings of the company. Wilkins Investment Counsel Inc. bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth $410,000. HBK Sorce Advisory LLC raised its stake in Bristol-Myers Squibb by 3.7% in the first quarter. HBK Sorce Advisory LLC now owns 32,578 shares of the biopharmaceutical company’s stock valued at $1,767,000 after purchasing an additional 1,159 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in Bristol-Myers Squibb by 5.6% in the first quarter. Kingsview Wealth Management LLC now owns 175,679 shares of the biopharmaceutical company’s stock valued at $9,527,000 after purchasing an additional 9,317 shares in the last quarter. TBH Global Asset Management LLC raised its stake in Bristol-Myers Squibb by 10.4% in the first quarter. TBH Global Asset Management LLC now owns 9,656 shares of the biopharmaceutical company’s stock valued at $524,000 after purchasing an additional 906 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Bristol-Myers Squibb by 24.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,577,178 shares of the biopharmaceutical company’s stock worth $139,760,000 after acquiring an additional 510,023 shares in the last quarter. 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.