Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.2% – Here’s Why

Bristol-Myers Squibb (NYSE:BMY) shares were down 0.2% on Thursday . The company traded as low as $58.31 and last traded at $58.31. Approximately 2,190,655 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 14,390,349 shares. The stock had previously closed at $58.41.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BMY. TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Barclays increased their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $73.00 in a report on Tuesday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Up 0.1 %

The firm’s 50-day simple moving average is $52.41 and its two-hundred day simple moving average is $47.07. The stock has a market cap of $118.61 billion, a price-to-earnings ratio of -16.24, a PEG ratio of 21.34 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.00 earnings per share. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC increased its stake in Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 206 shares during the last quarter. Graypoint LLC raised its holdings in Bristol-Myers Squibb by 29.4% during the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after acquiring an additional 2,563 shares in the last quarter. Xponance Inc. grew its stake in Bristol-Myers Squibb by 8.8% in the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after purchasing an additional 25,543 shares in the last quarter. Plato Investment Management Ltd increased its position in shares of Bristol-Myers Squibb by 25.4% during the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after purchasing an additional 21,041 shares during the last quarter. Finally, Meritage Portfolio Management raised its stake in shares of Bristol-Myers Squibb by 1,874.9% during the 3rd quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company’s stock worth $5,602,000 after purchasing an additional 102,782 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.