Sargent Investment Group LLC Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

Sargent Investment Group LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 41.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,741 shares of the biopharmaceutical company’s stock after selling 4,025 shares during the quarter. Sargent Investment Group LLC’s holdings in Bristol-Myers Squibb were worth $295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. OFI Invest Asset Management purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $25,000. Milestone Investment Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $27,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. Legacy Financial Group LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $39,000. Finally, VisionPoint Advisory Group LLC raised its holdings in shares of Bristol-Myers Squibb by 300.5% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock valued at $43,000 after buying 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 Up 0.3 %

NYSE:BMY opened at $44.85 on Monday. The stock has a 50-day simple moving average of $51.03 and a two-hundred day simple moving average of $51.10. Bristol-Myers Squibb has a 52-week low of $44.34 and a 52-week high of $69.10. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during 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%. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BMY shares. BMO Capital Markets reduced 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 report on Friday. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. One investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.00.

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.