McAdam LLC Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

McAdam LLC decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,891 shares of the biopharmaceutical company’s stock after selling 325 shares during the quarter. McAdam LLC’s holdings in Bristol-Myers Squibb were worth $251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Bristol-Myers Squibb in the third quarter worth approximately $25,000. Milestone Investment Advisors LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $27,000. Blue Bell Private Wealth Management LLC lifted its holdings in Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Legacy Financial Group LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $39,000. Finally, VisionPoint Advisory Group LLC lifted its holdings in Bristol-Myers Squibb by 300.5% during the third quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 1.5 %

Shares of BMY opened at $43.96 on Wednesday. The company’s fifty day moving average is $50.81 and its 200 day moving average is $50.93. Bristol-Myers Squibb has a fifty-two week low of $43.93 and a fifty-two week high of $69.10. The stock has a market capitalization of $89.11 billion, a PE ratio of -14.18, a P/E/G ratio of 15.47 and a beta of 0.39. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the previous year, the business posted $2.05 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analysts Set New Price Targets

BMY has been the topic of several analyst reports. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays lowered their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.00.

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.