Bristol-Myers Squibb (NYSE:BMY) Trading Up 1.9% - Time to Buy?

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) was up 1.9% during mid-day trading on Monday . The company traded as high as $48.18 and last traded at $47.32. Approximately 9,059,675 shares changed hands during trading, a decline of 31% from the average daily volume of 13,095,647 shares. The stock had previously closed at $46.45.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on 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. Citigroup boosted their target price 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, Piper Sandler assumed coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of "Hold" and an average price target of $58.00.

Bristol-Myers Squibb Stock Performance

The firm's fifty day moving average price is $54.54 and its 200 day moving average price is $56.23. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $97.92 billion, a PE ratio of -10.89, a PEG ratio of 2.07 and a beta of 0.39.

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

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders 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 yield of 5.15%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is 92.88%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president now directly owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently added to or reduced their stakes in BMY. Norges Bank bought a new position in Bristol-Myers Squibb in the fourth quarter valued at approximately $1,989,525,000. Ameriprise Financial Inc. raised its holdings in shares of Bristol-Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after acquiring an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Bristol-Myers Squibb by 701.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after acquiring an additional 10,913,708 shares during the period. Wellington Management Group LLP increased its stake in Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after buying an additional 5,827,317 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $257,618,000. 76.41% of the stock is owned by institutional investors.

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.

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