Bristol-Myers Squibb (NYSE:BMY) Position Reduced by Balentine LLC

Balentine LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,362 shares of the biopharmaceutical company’s stock after selling 2,431 shares during the quarter. Balentine LLC’s holdings in Bristol-Myers Squibb were worth $686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Milestone Investment Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at $27,000. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $27,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $34,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $40,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $40,000. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. BMO Capital Markets lowered their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Finally, Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded down $0.55 on Tuesday, hitting $42.81. The company’s stock had a trading volume of 2,827,064 shares, compared to its average volume of 15,363,934. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. Bristol-Myers Squibb has a fifty-two week low of $42.79 and a fifty-two week high of $67.16. The firm’s fifty day moving average price is $48.69 and its 200-day moving average price is $49.92.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 EPS. On average, analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

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.