Bristol-Myers Squibb (NYSE:BMY) Hits New 12-Month Low at $43.73

Bristol-Myers Squibb (NYSE:BMY)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $43.73 and last traded at $43.78, with a volume of 1107105 shares traded. The stock had previously closed at $43.94.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Wells Fargo & Company boosted their target price on 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. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets reduced their price target 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, April 26th. Finally, Barclays cut their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

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

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.6 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.49%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. J.W. Cole Advisors Inc. grew its stake in Bristol-Myers Squibb by 9.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 29,058 shares of the biopharmaceutical company’s stock valued at $1,687,000 after purchasing an additional 2,468 shares during the last quarter. Legacy Financial Group LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $39,000. NorthRock Partners LLC increased its stake in Bristol-Myers Squibb by 6.3% during the 3rd quarter. NorthRock Partners LLC now owns 10,506 shares of the biopharmaceutical company’s stock worth $610,000 after buying an additional 624 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Bristol-Myers Squibb by 1.6% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 1,024,654 shares of the biopharmaceutical company’s stock worth $59,471,000 after buying an additional 16,400 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in Bristol-Myers Squibb by 143.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,308 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 1,948 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other 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.