Bristol-Myers Squibb (NYSE:BMY) Downgraded to “Buy” at StockNews.com

StockNews.com lowered shares of Bristol-Myers Squibb (NYSE:BMY) from a strong-buy rating to a buy rating in a research report report published on Thursday morning.

Other equities analysts have also recently issued research reports about the company. Societe Generale cut Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, March 11th. William Blair restated a market perform rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets cut their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a market perform rating on the stock in a research note on Friday, April 26th. Barclays cut their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an equal weight rating on the stock in a research note on Friday, April 26th. Finally, Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an equal weight rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of Hold and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $41.50 on Thursday. The firm has a market capitalization of $84.12 billion, a P/E ratio of -13.39, a PEG ratio of 14.28 and a beta of 0.43. Bristol-Myers Squibb has a 1 year low of $39.63 and a 1 year high of $65.38. The business has a 50-day moving average of $43.25 and a 200-day moving average of $48.27. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 EPS. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current 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 5.78%. 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its holdings in Bristol-Myers Squibb by 532.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. grew its holdings in Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after buying an additional 296 shares in the last quarter. Great Diamond Partners LLC grew its holdings in Bristol-Myers Squibb by 9.2% in the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after buying an additional 367 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Bristol-Myers Squibb in the 1st quarter valued at $5,161,000. Finally, Principal Securities Inc. acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at $1,139,000. 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.