Bristlecone Advisors LLC Has $225,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Bristlecone Advisors LLC lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,387 shares of the biopharmaceutical company’s stock after selling 490 shares during the quarter. Bristlecone Advisors LLC’s holdings in Bristol-Myers Squibb were worth $225,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Dakota Wealth Management acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at approximately $332,000. Covestor Ltd increased its position in shares of Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,082 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after purchasing an additional 57,444 shares during the last quarter. Ergoteles LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $1,997,000. Finally, Mackenzie Financial Corp increased its position in shares of Bristol-Myers Squibb by 25.1% during the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock worth $24,725,000 after purchasing an additional 68,018 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent analyst reports. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Stock Performance

BMY opened at $51.09 on Tuesday. The business has a fifty day simple moving average of $51.21 and a 200 day simple moving average of $52.00. The company has a market capitalization of $103.55 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.55 and a beta of 0.39. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 EPS. Research analysts expect that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.70%. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

About Bristol-Myers Squibb

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.