Strs Ohio Reduces Position in Bristol-Myers Squibb Co (BMY)

Strs Ohio lessened its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,431,520 shares of the biopharmaceutical company’s stock after selling 98,504 shares during the quarter. Strs Ohio owned approximately 0.09% of Bristol-Myers Squibb worth $87,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BMY. Bredin Investment LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $1,937,000. Howard Capital Management raised its holdings in Bristol-Myers Squibb by 0.5% during the 4th quarter. Howard Capital Management now owns 176,010 shares of the biopharmaceutical company’s stock worth $10,786,000 after purchasing an additional 804 shares during the last quarter. Cornerstone Financial Partners LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $260,000. Cornerstone Investment Partners LLC raised its holdings in Bristol-Myers Squibb by 100.0% during the 4th quarter. Cornerstone Investment Partners LLC now owns 19,168 shares of the biopharmaceutical company’s stock worth $1,175,000 after purchasing an additional 9,584 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its holdings in Bristol-Myers Squibb by 5.5% during the 4th quarter. Patten & Patten Inc. TN now owns 176,814 shares of the biopharmaceutical company’s stock worth $10,835,000 after purchasing an additional 9,251 shares during the last quarter. Institutional investors and hedge funds own 69.82% of the company’s stock.

Shares of Bristol-Myers Squibb Co (BMY) opened at $67.35 on Wednesday. Bristol-Myers Squibb Co has a 52-week low of $51.56 and a 52-week high of $70.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.43. The stock has a market cap of $112,582.92, a price-to-earnings ratio of 22.91, a P/E/G ratio of 2.14 and a beta of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 35.43%. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the firm posted $0.63 EPS. Bristol-Myers Squibb’s revenue was up 3.9% compared to the same quarter last year. equities analysts forecast that Bristol-Myers Squibb Co will post 3.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.60 annualized dividend and a yield of 2.38%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 271.19%.

In related news, EVP Sandra Leung sold 156,582 shares of Bristol-Myers Squibb stock in a transaction on Monday, December 4th. The shares were sold at an average price of $63.37, for a total value of $9,922,601.34. Following the completion of the sale, the executive vice president now owns 584,373 shares of the company’s stock, valued at approximately $37,031,717.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of Bristol-Myers Squibb stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total transaction of $335,172.00. Following the completion of the sale, the executive vice president now directly owns 9,251 shares of the company’s stock, valued at approximately $585,033.24. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Several brokerages have recently commented on BMY. Citigroup set a $78.00 price objective on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Friday, February 16th. BMO Capital Markets set a $51.00 price objective on shares of Bristol-Myers Squibb and gave the stock a “sell” rating in a research report on Wednesday, February 14th. Vetr raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating and set a $60.72 price objective for the company in a research report on Thursday, February 1st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $60.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Finally, Leerink Swann raised their price objective on shares of Bristol-Myers Squibb from $71.00 to $76.00 and gave the stock a “positive” rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $66.73.

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About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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

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