Bristol-Myers Squibb (NYSE:BMY) Trading 1.8% Higher

Shares of Bristol-Myers Squibb (NYSE:BMY) rose 1.8% on Wednesday . The company traded as high as $43.04 and last traded at $42.94. 3,982,096 shares changed hands during trading, a decline of 74% from the average daily volume of 15,579,179 shares. The stock had previously closed at $42.19.

Analyst Ratings Changes

Several equities analysts recently commented on BMY shares. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Wells Fargo & Company lifted their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 17th. 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 report on Friday, April 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Price Performance

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 business’s 50 day simple moving average is $43.36 and its two-hundred day simple moving average is $48.31.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. Equities research analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.64%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. McClarren Financial Advisors Inc. lifted its holdings in Bristol-Myers Squibb by 532.7% in 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. grew its position in shares of Bristol-Myers Squibb by 1.0% during the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after purchasing an additional 296 shares in the last quarter. Great Diamond Partners LLC boosted its stake in Bristol-Myers Squibb by 9.2% during the fourth quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after buying an additional 367 shares during the last quarter. Global Assets Advisory LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at approximately $5,161,000. Finally, Principal Securities Inc. bought a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $1,139,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.