Bristol-Myers Squibb (NYSE:BMY) Trading Down 0.1% – Time to Sell?

Bristol-Myers Squibb (NYSE:BMY)’s stock price fell 0.1% during mid-day trading on Monday . The stock traded as low as $55.84 and last traded at $56.19. 1,460,009 shares were traded during mid-day trading, a decline of 90% from the average session volume of 14,404,887 shares. The stock had previously closed at $56.22.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, UBS Group lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Price Performance

The firm has a fifty day moving average of $52.73 and a two-hundred day moving average of $47.27. The company has a market capitalization of $115.10 billion, a PE ratio of -15.65, a PEG ratio of 15.23 and a beta of 0.44. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 EPS. Research analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of institutional investors have recently made changes to their positions in the business. Reston Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Hollencrest Capital Management raised its stake in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $29,000. Finally, Valued Wealth Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

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.