Bristol-Myers Squibb (NYSE:BMY) Reaches New 1-Year Low at $45.11

Bristol-Myers Squibb (NYSE:BMY)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $45.11 and last traded at $45.58, with a volume of 11733400 shares traded. The stock had previously closed at $48.86.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays cut their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Up 0.4 %

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 firm has a market cap of $90.92 billion, a PE ratio of 11.62, a PEG ratio of 1.47 and a beta of 0.39. The stock has a fifty day moving average price of $51.03 and a 200-day moving average price of $51.18.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts expect that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently bought and sold shares of BMY. Norges Bank purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $1,560,524,000. Van ECK Associates Corp boosted its holdings in Bristol-Myers Squibb by 792.6% in the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after acquiring an additional 3,579,324 shares during the period. Primecap Management Co. CA boosted its holdings in Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after acquiring an additional 2,998,228 shares during the period. Pacer Advisors Inc. boosted its holdings in Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after acquiring an additional 2,540,360 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Bristol-Myers Squibb by 36.7% in the 4th quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after acquiring an additional 2,510,134 shares during the period. Hedge funds and other institutional investors 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.