Bristol-Myers Squibb (NYSE:BMY) Stock Price Down 0.8%

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) dropped 0.8% during mid-day trading on Thursday . The company traded as low as $43.33 and last traded at $43.85. Approximately 4,735,075 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 15,821,210 shares. The stock had previously closed at $44.21.

Analyst Ratings Changes

BMY has been the topic of a number of recent research reports. StockNews.com cut Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Monday, April 15th. Societe Generale cut Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a report on Monday, March 11th. Barclays decreased their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an "equal weight" rating on the stock in a report on Friday, April 26th. Bank of America cut Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Performance

The company has a market cap of $88.58 billion, a P/E ratio of -14.10, a P/E/G ratio of 14.70 and a beta of 0.45. The firm has a 50 day moving average price of $50.52 and a 200-day moving average price of $50.84. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. 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 positive return on equity of 8.83% and a negative net margin of 13.50%. The firm's revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 EPS. On average, research analysts predict that Bristol-Myers Squibb will post 0.6 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.49%. Bristol-Myers Squibb's dividend payout ratio is presently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several large investors have recently added to or reduced their stakes in BMY. McClarren Financial Advisors Inc. raised its holdings in shares of Bristol-Myers Squibb by 532.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company's stock worth $96,000 after buying an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. lifted its holdings in Bristol-Myers Squibb by 1.0% during the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company's stock worth $1,542,000 after acquiring an additional 296 shares in the last quarter. Herold Advisors Inc. lifted its holdings in shares of Bristol-Myers Squibb by 3.2% in the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company's stock valued at $1,954,000 after purchasing an additional 1,051 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Bristol-Myers Squibb by 9.5% in the third quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company's stock valued at $8,115,000 after purchasing an additional 12,121 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in Bristol-Myers Squibb by 14.8% during the third quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company's stock worth $5,907,000 after acquiring an additional 13,122 shares in 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.