Bristol-Myers Squibb (NYSE:BMY) Trading Up 0.4% on Analyst Upgrade

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) shares traded up 0.4% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $51.00 to $52.00. Wells Fargo & Company currently has an equal weight rating on the stock. Bristol-Myers Squibb traded as high as $48.57 and last traded at $48.49. 1,886,248 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 15,592,247 shares. The stock had previously closed at $48.30.

BMY has been the topic of a number of other research reports. William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Redburn Atlantic downgraded Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and reduced their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com downgraded Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Monday. Societe Generale downgraded Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a report on Monday, March 11th. Finally, Bank of America downgraded Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and reduced their price target for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $61.18.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds have recently made changes to their positions in the stock. Riversedge Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 3.2% during the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company's stock worth $330,000 after purchasing an additional 178 shares during the last quarter. Vicus Capital raised its holdings in shares of Bristol-Myers Squibb by 3.9% during the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company's stock worth $280,000 after purchasing an additional 179 shares during the last quarter. Front Row Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 17.5% during the fourth quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company's stock worth $88,000 after purchasing an additional 182 shares during the last quarter. Cassia Capital Partners LLC raised its holdings in shares of Bristol-Myers Squibb by 2.3% during the third quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company's stock worth $460,000 after purchasing an additional 182 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Bristol-Myers Squibb by 2.3% during the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company's stock worth $468,000 after purchasing an additional 182 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Up 1.3 %

The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The business's fifty day simple moving average is $51.23 and its two-hundred day simple moving average is $51.51. The company has a market cap of $99.17 billion, a PE ratio of 12.68, a PEG ratio of 1.44 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.48 billion during the quarter, compared to analysts' expectations of $11.19 billion. During the same quarter in the previous year, the company earned $1.82 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that Bristol-Myers Squibb will post 6.63 earnings per share 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 issued 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 4.90%. Bristol-Myers Squibb's payout ratio is 62.18%.

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.