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

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

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of research reports. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic lowered shares of 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 report on Tuesday, February 6th. Finally, Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

The stock’s 50-day simple moving average is $51.03 and its 200 day simple moving average is $51.18. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The company has a market cap of $90.92 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.47 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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

Institutional Trading of Bristol-Myers Squibb

Several hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $1,560,524,000. Northern Trust Corp increased its stake in shares of Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares during the period. Primecap Management Co. CA increased its stake in shares of Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Bristol-Myers Squibb by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after buying an additional 1,246,066 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Bristol-Myers Squibb by 8.6% during the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares during the period. 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.