Bristol-Myers Squibb (NYSE:BMY) Shares Up 1.4% After Earnings Beat

Bristol-Myers Squibb (NYSE:BMY) traded up 1.4% during trading on Friday following a better than expected earnings announcement. The company traded as high as $45.34 and last traded at $45.33. 5,111,179 shares traded hands during trading, a decline of 68% from the average session volume of 15,762,926 shares. The stock had previously closed at $44.70.

The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared 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 presently 62.18%.

Analysts Set New Price Targets

BMY has been the topic of several research reports. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Barclays dropped their price target 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. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. One investment 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. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several institutional investors have recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at about $25,000. Milestone Investment Advisors LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at approximately $27,000. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $27,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Finally, Accordant Advisory Group Inc purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $31,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 0.4 %

The business has a 50-day moving average price of $51.03 and a 200 day moving average price of $51.18. The stock has a market capitalization of $90.92 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.47 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24.

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.