Avantax Advisory Services Inc. trimmed its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,542 shares of the biopharmaceutical company’s stock after selling 1,790 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Bristol-Myers Squibb were worth $2,095,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in BMY. JCIC Asset Management Inc. acquired a new stake in shares of Bristol-Myers Squibb during the first quarter valued at about $25,000. Stonebridge Financial Planning Group LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $26,000. grace capital bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $26,000. Birch Capital Management LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $28,000. Finally, Sailer Financial LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $30,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.
Bristol-Myers Squibb stock traded down $0.39 during mid-day trading on Monday, reaching $59.87. The stock had a trading volume of 352,247 shares, compared to its average volume of 14,286,035. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.37 and a current ratio of 1.60. Bristol-Myers Squibb Co has a fifty-two week low of $42.48 and a fifty-two week high of $68.34. The stock’s 50-day simple moving average is $56.39 and its 200-day simple moving average is $59.89. The firm has a market capitalization of $136.04 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.15 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.34. The company had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Bristol-Myers Squibb had a return on equity of 31.85% and a net margin of 13.15%. Bristol-Myers Squibb’s quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. On average, research analysts forecast that Bristol-Myers Squibb Co will post 6.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 3rd were given a dividend of $0.45 per share. The ex-dividend date was Thursday, April 2nd. This represents a $1.80 annualized dividend and a dividend yield of 3.01%. Bristol-Myers Squibb’s payout ratio is 38.38%.
In related news, EVP John E. Elicker sold 15,805 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $61.01, for a total transaction of $964,263.05. Following the transaction, the executive vice president now owns 58,666 shares of the company’s stock, valued at $3,579,212.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by insiders.
A number of equities analysts have recently issued reports on BMY shares. TheStreet downgraded Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research report on Monday, April 13th. ValuEngine downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. Zacks Investment Research downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research report on Thursday, April 16th. Citigroup upgraded Bristol-Myers Squibb from a “neutral” rating to a “buy” rating and set a $73.00 target price for the company in a report on Monday, January 6th. Finally, Morgan Stanley upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and set a $64.00 target price for the company in a report on Thursday, April 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Buy” and an average price target of $64.58.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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