Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Riversedge Advisors LLC

Riversedge Advisors LLC decreased its position in Bristol-Myers Squibb (NYSE:BMYFree Report) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,180 shares of the biopharmaceutical company’s stock after selling 511 shares during the quarter. Riversedge Advisors LLC’s holdings in Bristol-Myers Squibb were worth $266,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $1,873,696,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 114,228.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after acquiring an additional 21,451,006 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after acquiring an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $86,965,000. Finally, Cowa LLC raised its holdings in Bristol-Myers Squibb by 9,777.8% during the first quarter. Cowa LLC now owns 1,657,894 shares of the biopharmaceutical company’s stock worth $1,211,000 after purchasing an additional 1,641,110 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of several research reports. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Wells Fargo & Company cut their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $61.12.

View Our Latest Report on BMY

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $52.55 on Wednesday. The firm has a market capitalization of $106.51 billion, a PE ratio of 13.61, a P/E/G ratio of 1.58 and a beta of 0.38. Bristol-Myers Squibb has a 52 week low of $47.58 and a 52 week high of $71.07. The firm’s 50-day simple moving average is $50.68 and its 200 day simple moving average is $52.49. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the firm earned $1.82 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts predict that Bristol-Myers Squibb will post 6.61 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.57%. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Bristol-Myers Squibb declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

About Bristol-Myers Squibb

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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