Bristol-Myers Squibb (NYSE:BMY) Stock Price Down 1.7%

Shares of Bristol-Myers Squibb (NYSE:BMY) fell 1.7% during trading on Tuesday . The stock traded as low as $40.58 and last traded at $40.59. 2,446,222 shares traded hands during trading, a decline of 84% from the average session volume of 15,676,147 shares. The stock had previously closed at $41.30.

Analysts Set New Price Targets

Several research firms have recently commented on BMY. BMO Capital Markets reduced their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. 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 report on Thursday, April 18th. Finally, 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 report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Price Performance

The company’s 50 day simple moving average is $42.64 and its 200 day simple moving average is $47.97. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.99%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently modified their holdings of the company. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth $27,000. Northwest Financial Advisors acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at $27,000. Accordant Advisory Group Inc acquired a new position in Bristol-Myers Squibb in the first quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at $34,000. Finally, VisionPoint Advisory Group LLC boosted its stake in Bristol-Myers Squibb by 300.5% in the third quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 553 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.