Bristol-Myers Squibb (NYSE:BMY) Shares Down 0.8%

Bristol-Myers Squibb (NYSE:BMY)’s share price fell 0.8% on Wednesday . The stock traded as low as $40.11 and last traded at $40.12. 3,572,360 shares were traded during mid-day trading, a decline of 77% from the average session volume of 15,700,410 shares. The stock had previously closed at $40.45.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BMY. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. Barclays decreased their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. BMO Capital Markets decreased their target price on shares of 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. Finally, Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Trading Down 0.8 %

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’s fifty day simple moving average is $42.64 and its two-hundred day simple moving average is $47.97. The stock has a market capitalization of $81.33 billion, a P/E ratio of -12.94, a P/E/G ratio of 14.21 and a beta of 0.44.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently made changes to their positions in the business. Marcum Wealth LLC raised its stake in shares of Bristol-Myers Squibb by 18.4% in the 2nd quarter. Marcum Wealth LLC now owns 15,834 shares of the biopharmaceutical company’s stock valued at $658,000 after buying an additional 2,466 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of Bristol-Myers Squibb by 9.9% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 15,426 shares of the biopharmaceutical company’s stock valued at $641,000 after buying an additional 1,391 shares in the last quarter. Old Port Advisors raised its stake in shares of Bristol-Myers Squibb by 1.1% in the 1st quarter. Old Port Advisors now owns 39,490 shares of the biopharmaceutical company’s stock valued at $2,142,000 after buying an additional 419 shares in the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of Bristol-Myers Squibb by 53.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,979 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 1,035 shares in the last quarter. Finally, Keynote Financial Services LLC acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at $1,505,000. 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.