Avior Wealth Management LLC Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Avior Wealth Management LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,217 shares of the biopharmaceutical company’s stock after selling 631 shares during the quarter. Avior Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,873,696,000. Moneta Group Investment Advisors LLC increased its position in shares of Bristol-Myers Squibb by 114,228.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after purchasing an additional 21,451,006 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after purchasing an additional 2,540,360 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $86,965,000. Finally, Cowa LLC increased its position in shares of Bristol-Myers Squibb by 9,777.8% during the 1st quarter. Cowa LLC now owns 1,657,894 shares of the biopharmaceutical company’s stock valued at $1,211,000 after purchasing an additional 1,641,110 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BMY. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, 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. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $61.18.

Bristol-Myers Squibb Price Performance

BMY opened at $48.93 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93. The stock has a market capitalization of $99.17 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.39. The stock’s 50 day moving average price is $51.23 and its 200-day moving average price is $51.51.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 earnings per share. On average, equities research analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.90%. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.