Bristol-Myers Squibb (NYSE:BMY) Shares Gap Down Following Analyst Downgrade

Bristol-Myers Squibb (NYSE:BMY) shares gapped down before the market opened on Wednesday after Jefferies Financial Group lowered their price target on the stock from $70.00 to $68.00. The stock had previously closed at $49.82, but opened at $47.63. Jefferies Financial Group currently has a buy rating on the stock. Bristol-Myers Squibb shares last traded at $48.61, with a volume of 4,729,170 shares.

A number of other analysts have also recently weighed in on BMY. UBS Group decreased their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Citigroup lifted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Truist Financial upped their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.00.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is owned by insiders.

Institutional Trading of Bristol-Myers Squibb

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealthspire Advisors LLC raised its position in Bristol-Myers Squibb by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock valued at $1,622,000 after purchasing an additional 170 shares during the period. Edmp Inc. grew its stake in Bristol-Myers Squibb by 0.4% during the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after acquiring an additional 171 shares in the last quarter. Trust Point Inc. lifted its position in shares of Bristol-Myers Squibb by 1.9% in the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after buying an additional 172 shares during the last quarter. Bedel Financial Consulting Inc. grew its holdings in Bristol-Myers Squibb by 3.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 175 shares during the last quarter. Finally, Horst & Graben Wealth Management LLC boosted its position in Bristol-Myers Squibb by 2.4% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after buying an additional 179 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 2.6 %

The firm’s 50-day moving average is $56.60 and its two-hundred day moving average is $56.54. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The stock has a market cap of $98.69 billion, a P/E ratio of -10.97, a PEG ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.11%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

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.