Bristol-Myers Squibb (NYSE:BMY) Shares Down 1.3% - Here's What Happened

Shares of Bristol-Myers Squibb (NYSE:BMY - Get Free Report) fell 1.3% on Monday . The company traded as low as $49.76 and last traded at $49.91. 1,710,936 shares were traded during trading, a decline of 87% from the average session volume of 12,926,449 shares. The stock had previously closed at $50.57.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BMY shares. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Jefferies Financial Group reduced 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 research note on Wednesday, April 23rd. Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price on the stock. Citigroup increased their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of "Hold" and an average target price of $58.00.

Bristol-Myers Squibb Stock Down 1.1 %

The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The business has a 50 day moving average price of $55.06 and a 200 day moving average price of $56.27. The stock has a market cap of $95.83 billion, a PE ratio of -10.65, a P/E/G ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm's revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($4.40) EPS. Equities research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is presently 92.88%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently made changes to their positions in BMY. Vanguard Group Inc. increased its position in Bristol-Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares during the period. Capital International Investors lifted its holdings in Bristol-Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock valued at $2,593,940,000 after acquiring an additional 3,218,865 shares during the period. Geode Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after purchasing an additional 1,187,231 shares in the last quarter. Norges Bank purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $1,989,525,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Bristol-Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. Hedge funds and other institutional investors 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.