Bristol-Myers Squibb to Issue Quarterly Dividend of $0.62 (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) declared a quarterly dividend on Tuesday, June 17th, RTT News reports. Shareholders of record on Thursday, July 3rd will be given a dividend of 0.62 per share by the biopharmaceutical company on Friday, August 1st. This represents a $2.48 dividend on an annualized basis and a yield of 5.25%.

Bristol-Myers Squibb has a dividend payout ratio of 40.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bristol-Myers Squibb to earn $6.09 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 40.7%.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded down $1.41 during midday trading on Tuesday, reaching $47.25. The company's stock had a trading volume of 12,447,639 shares, compared to its average volume of 13,001,288. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The business's fifty day simple moving average is $48.62 and its 200-day simple moving average is $54.63. The company has a market capitalization of $96.15 billion, a P/E ratio of -10.69, a P/E/G ratio of 2.07 and a beta of 0.38.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Cantor Fitzgerald restated a "neutral" rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Jefferies Financial Group dropped their price target on 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. Finally, Wall Street Zen lowered shares of Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $58.00.

Insider Buying and Selling

In other news, EVP Samit Hirawat acquired 4,250 shares of the stock in a transaction that occurred on 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 purchase, the executive vice president now owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Bristol-Myers Squibb stock. Brighton Jones LLC boosted its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 33.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,728 shares of the biopharmaceutical company's stock after acquiring an additional 4,935 shares during the period. Brighton Jones LLC's holdings in Bristol-Myers Squibb were worth $1,116,000 as of its most recent SEC filing. 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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