Bristol-Myers Squibb (NYSE:BMY) Shares Down 1.1%

Shares of Bristol-Myers Squibb (NYSE:BMY) fell 1.1% during trading on Thursday . The company traded as low as $41.58 and last traded at $41.89. 3,501,801 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 15,412,425 shares. The stock had previously closed at $42.34.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BMY. BMO Capital Markets lowered 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 note on Friday, April 26th. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Wells Fargo & Company lifted their price objective on shares of 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. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Barclays cut 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 report on Friday, April 26th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Down 0.7 %

The stock has a 50 day moving average of $47.80 and a 200 day moving average of $49.66. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.82%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Milestone Investment Advisors LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter worth about $27,000. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth about $27,000. Northwest Financial Advisors bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $27,000. Accordant Advisory Group Inc bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth about $31,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $34,000. 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.