Bristol-Myers Squibb (NYSE:BMY) Stock Price Up 1%

Bristol-Myers Squibb (NYSE:BMY)’s stock price rose 1% on Tuesday . The stock traded as high as $40.50 and last traded at $40.37. Approximately 3,133,634 shares changed hands during trading, a decline of 80% from the average daily volume of 15,609,122 shares. The stock had previously closed at $39.99.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective 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. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. BMO Capital Markets cut their price objective 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. Barclays cut their price objective on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $59.50.

Bristol-Myers Squibb Trading Down 0.9 %

The company has a market cap of $82.59 billion, a P/E ratio of -13.25, a PEG ratio of 13.68 and a beta of 0.44. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The business has a 50 day moving average price of $42.05 and a 200-day moving average price of $47.52.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the prior year, the business posted $2.05 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Westside Investment Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 2.9% during the 4th quarter. Westside Investment Management Inc. now owns 7,156 shares of the biopharmaceutical company’s stock worth $367,000 after acquiring an additional 204 shares during the last quarter. Traynor Capital Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 2.8% during the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after acquiring an additional 207 shares during the last quarter. Fulton Breakefield Broenniman LLC grew its holdings in Bristol-Myers Squibb by 4.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock valued at $243,000 after buying an additional 209 shares in the last quarter. Chapin Davis Inc. grew its holdings in Bristol-Myers Squibb by 1.2% in the 4th quarter. Chapin Davis Inc. now owns 18,385 shares of the biopharmaceutical company’s stock valued at $943,000 after buying an additional 214 shares in the last quarter. Finally, Accurate Wealth Management LLC grew its holdings in Bristol-Myers Squibb by 4.0% in the 1st quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock valued at $304,000 after buying an additional 216 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

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.