Bristol-Myers Squibb Co (NYSE:BMY) declared a quarterly dividend on Thursday, December 7th, RTT News reports. Stockholders of record on Friday, January 5th will be paid a dividend of 0.40 per share by the biopharmaceutical company on Thursday, February 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, January 4th. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39.
Bristol-Myers Squibb has raised its dividend payment by an average of 2.7% annually over the last three years and has increased its dividend every year for the last 8 years. Bristol-Myers Squibb has a payout ratio of 53.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bristol-Myers Squibb to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 50.8%.
Shares of Bristol-Myers Squibb (NYSE:BMY) opened at $62.81 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a market cap of $102,800.00, a PE ratio of 24.73, a PEG ratio of 2.29 and a beta of 1.18. Bristol-Myers Squibb has a fifty-two week low of $46.01 and a fifty-two week high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.20 billion. Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 EPS. analysts predict that Bristol-Myers Squibb will post 2.99 earnings per share for the current year.
Several analysts recently issued reports on the stock. Barclays increased their price target on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, October 13th. Jefferies Group downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a research note on Monday, October 16th. BMO Capital Markets set a $49.00 price objective on shares of Bristol-Myers Squibb and gave the company a “sell” rating in a research note on Thursday, October 12th. Leerink Swann increased their price objective on shares of Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Finally, Citigroup increased their price objective on shares of Bristol-Myers Squibb to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $65.05.
In related news, Director Theodore R. Samuels II purchased 4,000 shares of Bristol-Myers Squibb stock in a transaction on Friday, December 15th. The stock was acquired at an average cost of $62.30 per share, for a total transaction of $249,200.00. Following the completion of the acquisition, the director now owns 22,000 shares of the company’s stock, valued at approximately $1,370,600. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sandra Leung sold 156,582 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the sale, the executive vice president now owns 584,373 shares of the company’s stock, valued at $37,031,717.01. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
Large investors have recently bought and sold shares of the business. South Street Advisors LLC acquired a new stake in Bristol-Myers Squibb in the second quarter worth $201,000. Cheviot Value Management LLC acquired a new position in shares of Bristol-Myers Squibb during the second quarter valued at about $210,000. Intellectus Partners LLC grew its holdings in shares of Bristol-Myers Squibb by 2.1% during the second quarter. Intellectus Partners LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $221,000 after buying an additional 80 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Bristol-Myers Squibb during the second quarter valued at about $239,000. Finally, Guardian Capital LP acquired a new position in shares of Bristol-Myers Squibb during the second quarter valued at about $276,000. Institutional investors and hedge funds own 69.67% of the company’s stock.
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About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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