Bristol-Myers Squibb (NYSE:BMY) Stock Price Up 1.2%

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) shares were up 1.2% during mid-day trading on Monday . The stock traded as high as $48.86 and last traded at $48.85. Approximately 3,402,161 shares traded hands during trading, a decline of 79% from the average daily volume of 15,830,479 shares. The stock had previously closed at $48.28.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BMY shares. Wells Fargo & Company reduced their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 6th. Societe Generale lowered Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a research note on Monday, March 11th. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. StockNews.com raised Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a research note on Friday, March 1st. Finally, Bank of America lowered Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $61.12.

Bristol-Myers Squibb Stock Performance

The firm has a market capitalization of $98.32 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.78 and a beta of 0.39. The stock has a fifty day simple moving average of $51.28 and a two-hundred day simple moving average of $51.75. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. On average, research analysts predict that Bristol-Myers Squibb will post 5.41 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.95%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently added to or reduced their stakes in BMY. Dakota Wealth Management purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $332,000. Covestor Ltd boosted its position in shares of Bristol-Myers Squibb by 111.5% during the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company's stock valued at $150,000 after buying an additional 1,082 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 53.2% during the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company's stock valued at $12,075,000 after buying an additional 57,444 shares during the last quarter. Ergoteles LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $1,997,000. Finally, Mackenzie Financial Corp boosted its position in shares of Bristol-Myers Squibb by 25.1% during the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company's stock valued at $24,725,000 after buying an additional 68,018 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

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.