SFE Investment Counsel Reduces Stake in Bristol Myers Squibb Company (NYSE:BMY)

SFE Investment Counsel lessened its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,806 shares of the biopharmaceutical company’s stock after selling 3,150 shares during the period. SFE Investment Counsel’s holdings in Bristol Myers Squibb were worth $2,306,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors lifted its position in shares of Bristol Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock valued at $2,593,940,000 after acquiring an additional 3,218,865 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Bristol Myers Squibb by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after acquiring an additional 1,187,231 shares during the last quarter. Norges Bank bought a new stake in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $1,989,525,000. Ameriprise Financial Inc. raised its holdings in shares of Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after buying an additional 12,011,983 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Bristol Myers Squibb by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock valued at $1,638,501,000 after buying an additional 2,131,205 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Up 2.0%

Shares of Bristol Myers Squibb stock opened at $48.98 on Thursday. The stock has a market capitalization of $99.67 billion, a PE ratio of 18.34, a P/E/G ratio of 2.51 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. Bristol Myers Squibb Company has a 1-year low of $43.25 and a 1-year high of $63.33. The company’s fifty day simple moving average is $47.57 and its 200-day simple moving average is $52.76.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($4.40) earnings per share. As a group, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.06%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is 92.88%.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the business’s stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BMY has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating on the stock in a research note on Thursday, July 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Jefferies Financial Group lowered their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.53.

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.