Bristol-Myers Squibb (NYSE:BMY) Stock Price Up 1.2%

Bristol-Myers Squibb (NYSE:BMY) shares rose 1.2% on Friday . The company traded as high as $49.54 and last traded at $48.77. Approximately 4,586,805 shares changed hands during trading, a decline of 71% from the average daily volume of 15,893,988 shares. The stock had previously closed at $48.17.

Wall Street Analyst Weigh In

BMY has been the subject of several research reports. BMO Capital Markets dropped their target price on 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. Deutsche Bank Aktiengesellschaft lowered their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Finally, Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective on the stock. in a research note on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.79.

Bristol-Myers Squibb Price Performance

The business’s 50 day simple moving average is $42.24 and its two-hundred day simple moving average is $46.76. The stock has a market capitalization of $98.96 billion, a P/E ratio of -15.69, a price-to-earnings-growth ratio of 12.24 and a beta of 0.44. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the company posted $1.75 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.78 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.92%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds have recently made changes to their positions in the company. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter worth $27,000. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb in the 4th quarter worth about $27,000. Accordant Advisory Group Inc purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.