Blair William & Co. IL Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Blair William & Co. IL decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 21.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 675,610 shares of the biopharmaceutical company’s stock after selling 188,760 shares during the quarter. Blair William & Co. IL’s holdings in Bristol-Myers Squibb were worth $36,638,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BMY. Northwest Financial Advisors purchased a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $27,000. Accordant Advisory Group Inc acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at $31,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $34,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $40,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded up $0.25 during midday trading on Friday, hitting $42.64. The stock had a trading volume of 12,618,071 shares, compared to its average volume of 15,720,750. The company has a market capitalization of $86.44 billion, a PE ratio of -13.80, a P/E/G ratio of 15.74 and a beta of 0.44. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $65.38. The stock has a 50 day moving average price of $41.73 and a two-hundred day moving average price of $47.12. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 EPS. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.55 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays dropped their target price on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company boosted 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 research report on Thursday, April 18th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Finally, BMO Capital Markets dropped their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.07.

Bristol-Myers Squibb Company Profile

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.