Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,457 shares of the biopharmaceutical company’s stock after selling 3,966 shares during the quarter. Marco Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $1,819,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Strategic Blueprint LLC raised its stake in shares of Bristol-Myers Squibb by 8.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,440 shares of the biopharmaceutical company’s stock worth $316,000 after buying an additional 431 shares in the last quarter. Connecticut Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth about $240,000. Uncommon Cents Investing LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth about $309,000. Quattro Financial Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $2,612,000. Finally, Linden Thomas Advisory Services LLC lifted its position in shares of Bristol-Myers Squibb by 54.0% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 38,449 shares of the biopharmaceutical company’s stock worth $2,232,000 after purchasing an additional 13,488 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. BMO Capital Markets cut their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, Barclays reduced their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded up $0.15 during trading hours on Friday, reaching $44.85. 21,281,927 shares of the company’s stock were exchanged, compared to its average volume of 12,141,314. Bristol-Myers Squibb has a 1 year low of $44.34 and a 1 year high of $69.10. The company has a market capitalization of $90.90 billion, a P/E ratio of -14.47, a price-to-earnings-growth ratio of 16.31 and a beta of 0.39. The business has a fifty day moving average of $51.03 and a two-hundred day moving average of $51.10. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating 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 50.04%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. As a group, research analysts predict that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed 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 is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

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.