Meritage Portfolio Management Has $785,000 Stake in Bristol-Myers Squibb (NYSE:BMY)

Meritage Portfolio Management decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 77.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,294 shares of the biopharmaceutical company’s stock after selling 53,868 shares during the quarter. Meritage Portfolio Management’s holdings in Bristol-Myers Squibb were worth $785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $25,000. Milestone Investment Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $27,000. Blue Bell Private Wealth Management LLC grew its holdings in shares of Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Legacy Financial Group LLC bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $39,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE BMY traded up $0.57 during trading hours on Friday, hitting $45.27. The company had a trading volume of 11,282,575 shares, compared to its average volume of 15,840,121. Bristol-Myers Squibb has a 52 week low of $44.34 and a 52 week high of $69.10. The firm has a 50 day simple moving average of $51.13 and a 200 day simple moving average of $51.26. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The firm has a market capitalization of $91.75 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.47 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 EPS. Equities research analysts expect that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.30%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BMY shares. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. BMO Capital Markets reduced their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.