Bristol-Myers Squibb (NYSE:BMY) trades down 0.7%

Shares of Bristol-Myers Squibb (NYSE:BMY – Get Your Free Report ) were down 0.7% during trading on Friday. The company traded as high as $41.07 and last traded at $41.23. About 5,062,894 shares changed hands during mid-day trading, down 67% from the average daily volume of 15,394,602 shares. Shares previously closed at $41.54.

Analysts on Wall Street are forecasting an increase

Several research analysts have weighed in on the stock. Barclays lowered their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday , February 6. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, BMO Capital Markets cut their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $60.00, based on data from MarketBeat.

Read our latest analysis of BMY

Bristol-Myers Squibb Stock Performance

The company has a 50-day moving average price of $47.80 and a 200-day moving average price of $49.64. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99, and a current ratio of 1.11. The company has a market cap of $83.60 billion, a price-to-earnings ratio of -13.30, a P/E/G ratio of 14.06 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY – Get Your Free Report ) last issued 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. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 4.7% compared to the same quarter last year. In the same quarter last year, the firm earned $2.05 EPS. equities research analysts predict that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors 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 dividend of $2.40 on an annualized basis and a dividend yield of 5.82%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional investors are weighing in on Bristol-Myers Squibb

Several large investors have recently added to or reduced their stakes in the business. Capital International Investors grew its position in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares in the last quarter. Norges Bank bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $1,560,524,000. Northern Trust Corp increased its position in shares of Bristol-Myers Squibb by 5.8% in the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after acquiring an additional 1,394,158 shares during the last quarter. Primecap Management Co. CA lifted its position in Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after buying an additional 2,998,228 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Bristol-Myers Squibb by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after purchasing an additional 1,246,066 shares in the last quarter. Institutional investors own 76.41% of the company’s shares.

About Bristol-Myers Squibb

(Get a free report)

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. The company’s products include Eliquis for reducing the risk of stroke/systemic embolism in non-valvular atrial fibrillation and for the treatment of DVT/PE; Opdivo for various anticancer 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.

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