Bristol-Myers Squibb (NYSE:BMY) Trading 1.4% Higher Following Better-Than-Expected Earnings

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) shares rose 1.4% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $45.34 and last traded at $45.33. Approximately 5,111,179 shares changed hands during trading, a decline of 68% from the average daily volume of 15,762,926 shares. The stock had previously closed at $44.70.

The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 earnings per share.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 62.18%.

Analyst Ratings Changes

Several research analysts have weighed in on BMY shares. Barclays lowered their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an "equal weight" rating on the stock in a report on Friday. Bank of America downgraded Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and dropped their target price for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Societe Generale cut shares of Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a research report on Monday, March 11th. BMO Capital Markets cut their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a "market perform" rating on the stock in a research note on Friday. Finally, Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $60.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BMY. GHP Investment Advisors Inc. boosted its position in Bristol-Myers Squibb by 6.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 6,076 shares of the biopharmaceutical company's stock valued at $343,000 after acquiring an additional 386 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Bristol-Myers Squibb by 5.3% in the 3rd quarter. Boston Trust Walden Corp now owns 15,258 shares of the biopharmaceutical company's stock worth $886,000 after buying an additional 771 shares during the period. Strategic Blueprint LLC boosted its stake in Bristol-Myers Squibb by 8.6% during the third quarter. Strategic Blueprint LLC now owns 5,440 shares of the biopharmaceutical company's stock worth $316,000 after acquiring an additional 431 shares in the last quarter. Kempner Capital Management Inc. bought a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $2,844,000. Finally, Aaron Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 30.9% during the third quarter. Aaron Wealth Advisors LLC now owns 134,081 shares of the biopharmaceutical company's stock valued at $7,782,000 after purchasing an additional 31,622 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Performance

The business has a 50-day moving average price of $51.13 and a 200 day moving average price of $51.26. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The stock has a market capitalization of $90.92 billion, a P/E ratio of 11.70, a PEG ratio of 1.47 and a beta of 0.39.

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.