Bristol-Myers Squibb (NYSE:BMY) Stock Price Down 0.9%

Shares of Bristol-Myers Squibb (NYSE:BMY) were down 0.9% on Thursday . The stock traded as low as $41.88 and last traded at $42.10. Approximately 3,337,455 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 15,608,453 shares. The stock had previously closed at $42.50.

Analysts Set New Price Targets

BMY has been the topic of a number of research reports. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday. BMO Capital Markets lowered 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 26th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Barclays lowered their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One equities 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. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Price Performance

The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The company has a 50 day moving average price of $42.97 and a two-hundred day moving average price of $48.16.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 EPS. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business 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 5.78%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds have recently bought and sold shares of the company. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at about $27,000. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $27,000. Accordant Advisory Group Inc purchased a new stake in Bristol-Myers Squibb during the first quarter valued at approximately $31,000. Pacific Capital Wealth Advisors Inc. bought a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $34,000. Finally, VisionPoint Advisory Group LLC boosted its stake in shares of Bristol-Myers Squibb by 300.5% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 553 shares during the last quarter. 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.