Bristol-Myers Squibb (NYSE:BMY) Declares Quarterly Dividend of $0.62

Bristol-Myers Squibb (NYSE:BMY) announced a quarterly dividend on Monday, March 3rd, RTT News reports. Stockholders of record on Friday, April 4th will be paid a dividend of 0.62 per share by the biopharmaceutical company on Thursday, May 1st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.14%.

Bristol-Myers Squibb has raised its dividend by an average of 6.4% annually over the last three years and has raised its dividend every year for the last 16 years. Bristol-Myers Squibb has a payout ratio of 40.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bristol-Myers Squibb to earn $6.09 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 40.7%.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $59.85 on Tuesday. The company has a market cap of $121.45 billion, a P/E ratio of -13.54, a P/E/G ratio of 2.07 and a beta of 0.45. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The business has a fifty day simple moving average of $57.20 and a 200-day simple moving average of $54.86.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Equities research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cantor Fitzgerald lifted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Truist Financial lifted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets lifted their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Morgan Stanley boosted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $57.86.

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.