Bristol-Myers Squibb: (NYSE: BMY – Get Rating) announced a quarterly dividend on Thursday, June 16th, Wall Street Journal reports. Investors of record on Friday, July 1st will be given a dividend of 0.54 per share by the biopharmaceutical company on Monday, August 1st. This represents a $ 2.16 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, June 30th.
Bristol-Myers Squibb has increased its dividend payment by an average of 7.7% annually over the last three years and has raised its dividend every year for the last 16 years. Bristol-Myers Squibb has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bristol-Myers Squibb to earn $ 8.15 per share next year, which means the company should continue to be able to cover its $ 2.16 annual dividend with an expected future payout ratio of 26.5%.
Bristol-Myers Squibb stock opened at $ 79.98 on Tuesday. The firm has a 50 day moving average of $ 76.03 and a 200 day moving average of $ 70.46. The firm has a market capitalization of $ 170.28 billion, a price-to-earnings ratio of 28.36, a P / E / G ratio of 1.67 and a beta of 0.49. Bristol-Myers Squibb has a 12-month low of $ 53.22 and a 12-month high of $ 80.59. The company has a current ratio of 1.32, a quick ratio of 1.23 and a debt-to-equity ratio of 1.18.
Bristol-Myers Squibb (NYSE: BMY – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The biopharmaceutical company reported $ 1.96 earnings per share for the quarter, topping the consensus estimate of $ 1.92 by $ 0.04. Bristol-Myers Squibb had a return on equity of 48.37% and a net margin of 13.31%. The business had revenue of $ 11.65 billion during the quarter, compared to the consensus estimate of $ 11.34 billion. During the same period in the prior year, the company posted $ 1.74 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts predict that Bristol-Myers Squibb will post 7.56 EPS for the current year.
In other news, CEO Giovanni Caforio sold 30,000 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $ 74.04, for a total transaction of $ 2,221,200.00. Following the transaction, the chief executive officer now owns 551,104 shares in the company, valued at $ 40,803,740.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sandra Leung sold 65,000 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $ 74.89, for a total value of $ 4,867,850.00. Following the transaction, the executive vice president now owns 308,627 shares in the company, valued at approximately $ 23,113,076.03. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Dakota Wealth Management purchased a new position in Bristol-Myers Squibb in the first quarter valued at about $ 332,000. Covestor Ltd boosted its holdings in Bristol-Myers Squibb by 111.5% in the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company stock worth $ 150,000 after acquiring an additional 1,082 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Bristol-Myers Squibb by 53.2% in the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company stock worth $ 12,075,000 after acquiring an additional 57,444 shares in the last quarter. Ergoteles LLC acquired a new stake in Bristol-Myers Squibb in the first quarter worth about $ 1,997,000. Finally, Mackenzie Financial Corp boosted its holdings in Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company stock worth $ 24,725,000 after acquiring an additional 68,018 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company stock.
Several research firms have weighed in on BMY. StockNews.com began coverage on Bristol-Myers Squibb in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. Truist Financial upped their price target on Bristol-Myers Squibb from $ 76.00 to $ 81.00 in a research note on Monday, May 2nd. Morgan Stanley lowered their target price on Bristol-Myers Squibb from $ 66.00 to $ 64.00 and set an “underweight” rating for the company in a research report on Wednesday, April 6th. Guggenheim increased their target price on Bristol-Myers Squibb from $ 72.00 to $ 80.00 in a research report on Monday, May 2nd. Finally, Bank of America increased their target price on Bristol-Myers Squibb from $ 78.00 to $ 80.00 and gave the company a “buy” rating in a research report on Monday, June 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Moderate Buy” and an average target price of $ 74.27.
About Bristol-Myers Squibb: (Get Rating)
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke / systemic embolism in NVAF, and for the treatment of DVT / PE; Opdivo for anti-cancer indications; Pomalyst / Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.
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