Bristol Myers Squibb (NYSE:BMY) Price Target Lowered to $34.00 at Morgan Stanley

Bristol Myers Squibb (NYSE:BMY - Free Report) had its price objective cut by Morgan Stanley from $36.00 to $34.00 in a research note released on Thursday morning,Benzinga reports. They currently have an underweight rating on the biopharmaceutical company's stock.

Other equities analysts have also recently issued research reports about the stock. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Jefferies Financial Group cut their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Finally, UBS Group cut their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $57.69.

Bristol Myers Squibb Trading Down 3.3%

BMY traded down $1.61 during trading on Thursday, hitting $46.91. The company's stock had a trading volume of 13,670,701 shares, compared to its average volume of 12,865,822. The firm's 50 day moving average price is $47.58 and its 200-day moving average price is $53.35. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The stock has a market cap of $95.47 billion, a PE ratio of 17.57, a PEG ratio of 1.41 and a beta of 0.36. Bristol Myers Squibb has a twelve month low of $39.93 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the prior year, the firm posted ($4.40) EPS. The business's revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts expect that Bristol Myers Squibb will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 92.88%.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the business's stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president owned 83,513 shares of the company's stock, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company's stock.

Institutional Trading of Bristol Myers Squibb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Bristol Myers Squibb in the 4th quarter worth approximately $1,989,525,000. Wellington Management Group LLP raised its holdings in Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after acquiring an additional 17,750,938 shares during the period. Ameriprise Financial Inc. raised its holdings in Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares during the period. GQG Partners LLC raised its holdings in Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock valued at $733,310,000 after acquiring an additional 11,970,598 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Bristol Myers Squibb by 701.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock valued at $705,309,000 after acquiring an additional 10,913,708 shares during the period. 76.41% of the stock is owned by institutional investors.

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.