Bristol-Myers Squibb (NYSE:BMY) Shares Up 1.2%

Bristol-Myers Squibb (NYSE:BMY)’s share price traded up 1.2% on Wednesday . The stock traded as high as $42.78 and last traded at $42.78. 4,254,979 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 15,398,204 shares. The stock had previously closed at $42.27.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research analyst reports. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, BMO Capital Markets decreased their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

The firm’s 50-day moving average is $48.02 and its two-hundred day moving average is $49.74. The stock has a market cap of $83.56 billion, a P/E ratio of -13.33, a price-to-earnings-growth ratio of 14.33 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.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMY. McClarren Financial Advisors Inc. grew its holdings in shares of Bristol-Myers Squibb by 532.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after purchasing an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. raised its stake in shares of Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after buying an additional 296 shares in the last quarter. Herold Advisors Inc. boosted its position in shares of Bristol-Myers Squibb by 3.2% during the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after acquiring an additional 1,051 shares in the last quarter. Great Diamond Partners LLC increased its stake in Bristol-Myers Squibb by 9.2% in the fourth quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after acquiring an additional 367 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in Bristol-Myers Squibb by 9.5% in the third quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after purchasing an additional 12,121 shares in the last quarter. 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.