Bristol-Myers Squibb (NYSE:BMY) Reaches New 12-Month Low at $59.64

Shares of Bristol-Myers Squibb (NYSE:BMY) reached a new 52-week low on Wednesday . The stock traded as low as $59.64 and last traded at $59.70, with a volume of 2789725 shares. The stock had previously closed at $60.64.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. SVB Leerink reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, July 10th. Credit Suisse Group reduced their price objective on shares of Bristol-Myers Squibb from $72.00 to $66.00 in a report on Wednesday, July 12th. Morgan Stanley reaffirmed an “underweight” rating and issued a $59.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday, July 19th. Finally, Cantor Fitzgerald reduced their price objective on shares of Bristol-Myers Squibb from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.14.

Bristol-Myers Squibb Stock Down 1.7 %

The company has a quick ratio of 1.28, a current ratio of 1.39 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $124.55 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.64 and a beta of 0.42. The business’s 50 day simple moving average is $62.27 and its 200 day simple moving average is $65.70.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). Bristol-Myers Squibb had a net margin of 17.62% and a return on equity of 50.51%. The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $11.81 billion. During the same period in the prior year, the company posted $1.93 earnings per share. Bristol-Myers Squibb’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, analysts forecast that Bristol-Myers Squibb will post 7.49 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, July 6th. Bristol-Myers Squibb’s dividend payout ratio is presently 60.64%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.25, for a total value of $1,101,642.50. Following the transaction, the executive vice president now owns 27,868 shares in the company, valued at approximately $1,706,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.25, for a total value of $1,101,642.50. Following the transaction, the executive vice president now owns 27,868 shares in the company, valued at approximately $1,706,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert M. Plenge sold 732 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total value of $44,754.48. Following the completion of the transaction, the executive vice president now owns 6,584 shares in the company, valued at approximately $402,545.76. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of large investors have recently made changes to their positions in the business. Westshore Wealth LLC increased its holdings in Bristol-Myers Squibb by 15.4% in the second quarter. Westshore Wealth LLC now owns 4,220 shares of the biopharmaceutical company’s stock worth $270,000 after buying an additional 562 shares during the last quarter. Portside Wealth Group LLC acquired a new position in Bristol-Myers Squibb in the second quarter worth approximately $954,000. Garde Capital Inc. increased its holdings in Bristol-Myers Squibb by 334.2% in the second quarter. Garde Capital Inc. now owns 8,705 shares of the biopharmaceutical company’s stock worth $557,000 after buying an additional 6,700 shares during the last quarter. Brown Shipley& Co Ltd increased its holdings in Bristol-Myers Squibb by 1.8% in the second quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock worth $586,000 after buying an additional 164 shares during the last quarter. Finally, Strategy Asset Managers LLC increased its holdings in Bristol-Myers Squibb by 6.8% in the second quarter. Strategy Asset Managers LLC now owns 10,744 shares of the biopharmaceutical company’s stock worth $687,000 after buying an additional 685 shares during the last quarter. Institutional investors and hedge funds own 74.98% 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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.