Bristol-Myers Squibb (NYSE:BMY - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $50.60 and traded as high as $57.60. Bristol-Myers Squibb shares last traded at $56.06, with a volume of 6,589,592 shares trading hands.
Analyst Ratings Changes
Several brokerages recently weighed in on BMY. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a "market perform" rating and a $56.00 price target for the company. Morgan Stanley raised their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a research note on Tuesday, November 12th. Barclays boosted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and raised their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, BMO Capital Markets boosted their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of "Hold" and an average price target of $55.64.
Read Our Latest Analysis on BMY
Bristol-Myers Squibb Stock Up 0.9 %
The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The firm's 50-day moving average price is $56.90 and its 200 day moving average price is $50.71. The firm has a market capitalization of $114.71 billion, a price-to-earnings ratio of -15.75, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45.
Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the business posted $2.00 earnings per share. Bristol-Myers Squibb's revenue was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.
Bristol-Myers Squibb Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -69.08%.
Insider Activity
In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company's stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the company's stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company's stock.
Institutional Trading of Bristol-Myers Squibb
A number of institutional investors and hedge funds have recently made changes to their positions in BMY. Principal Financial Group Inc. increased its position in Bristol-Myers Squibb by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,458,536 shares of the biopharmaceutical company's stock worth $127,205,000 after purchasing an additional 102,790 shares in the last quarter. Exome Asset Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the third quarter worth $4,036,000. Birmingham Capital Management Co. Inc. AL raised its stake in shares of Bristol-Myers Squibb by 6.2% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 47,941 shares of the biopharmaceutical company's stock valued at $2,480,000 after acquiring an additional 2,800 shares during the period. Inspire Trust Co. N.A. lifted its holdings in shares of Bristol-Myers Squibb by 39.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock valued at $5,355,000 after acquiring an additional 29,044 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in Bristol-Myers Squibb by 0.3% during the 3rd quarter. Synovus Financial Corp now owns 260,181 shares of the biopharmaceutical company's stock worth $13,462,000 after purchasing an additional 822 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.
Bristol-Myers Squibb Company Profile
(
Get Free Report)
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.
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