Bristol-Myers Squibb (NYSE:BMY) Stock Price Down 0.5%

Bristol-Myers Squibb (NYSE:BMY - Get Free Report)'s stock price traded down 0.5% during trading on Wednesday . The company traded as low as $48.24 and last traded at $48.26. 11,931,277 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 10,940,481 shares. The stock had previously closed at $48.51.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Societe Generale downgraded Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a report on Monday, March 11th. Bank of America downgraded Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Redburn Atlantic downgraded Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and dropped their price objective for the stock 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. Finally, Wells Fargo & Company dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $61.12.

Bristol-Myers Squibb Stock Performance

The firm's 50 day moving average price is $51.26 and its 200-day moving average price is $51.59. The firm has a market cap of $96.94 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.46 and a beta of 0.39. 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 announced its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. Bristol-Myers Squibb's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share. On average, analysts anticipate that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.02%. Bristol-Myers Squibb's payout ratio is 62.18%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BMY. OFI Invest Asset Management bought a new position in Bristol-Myers Squibb in the third quarter worth $25,000. True Wealth Design LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth $26,000. Milestone Investment Advisors LLC bought a new position in Bristol-Myers Squibb in the third quarter worth $27,000. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb in the fourth quarter worth $27,000. Finally, Coppell Advisory Solutions LLC bought a new position in shares of Bristol-Myers Squibb during the second quarter valued at $28,000. 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.