Bristol-Myers Squibb (NYSE:BMY) Trading Down 0.6% – Time to Sell?

Bristol-Myers Squibb (NYSE:BMY) shares dropped 0.6% during trading on Wednesday . The company traded as low as $58.44 and last traded at $58.69. 1,733,731 shares changed hands during trading, a decline of 88% from the average session volume of 14,402,706 shares. The stock had previously closed at $59.02.

Analyst Ratings Changes

BMY has been the subject of a number of research analyst reports. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $73.00 in a research report on Tuesday. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Finally, UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Stock Up 0.1 %

The firm’s 50-day simple moving average is $52.41 and its 200 day simple moving average is $47.07. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The company has a market capitalization of $118.63 billion, a PE ratio of -16.29, a price-to-earnings-growth ratio of 21.34 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $2.00 earnings per share. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.10%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BMY. Reston Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the 3rd quarter worth about $25,000. Hollencrest Capital Management increased its position in Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the last quarter. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the first quarter worth approximately $27,000. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.