Lederer & Associates Investment Counsel CA Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Lederer & Associates Investment Counsel CA trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.0% during the 4th quarter, Holdings Channel reports. The firm owned 21,122 shares of the biopharmaceutical company’s stock after selling 1,360 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in Bristol-Myers Squibb were worth $1,195,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BMY. Algert Global LLC bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at $328,000. AMF Tjanstepension AB increased its holdings in Bristol-Myers Squibb by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock valued at $31,618,000 after acquiring an additional 39,419 shares during the last quarter. Czech National Bank increased its holdings in Bristol-Myers Squibb by 6.9% in the 3rd quarter. Czech National Bank now owns 413,002 shares of the biopharmaceutical company’s stock valued at $21,369,000 after acquiring an additional 26,718 shares during the last quarter. GAMMA Investing LLC increased its holdings in Bristol-Myers Squibb by 61.3% in the 3rd quarter. GAMMA Investing LLC now owns 27,386 shares of the biopharmaceutical company’s stock valued at $1,417,000 after acquiring an additional 10,410 shares during the last quarter. Finally, Everpar Advisors LLC increased its holdings in Bristol-Myers Squibb by 4.1% in the 3rd quarter. Everpar Advisors LLC now owns 11,242 shares of the biopharmaceutical company’s stock valued at $582,000 after acquiring an additional 446 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $58.86 on Monday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The firm has a 50-day moving average of $57.60 and a two-hundred day moving average of $53.27.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the business posted $2.00 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.21%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target on the stock. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Truist Financial boosted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets boosted their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.60.

Bristol-Myers Squibb 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.