Intech Investment Management LLC Sells 283,629 Shares of Bristol-Myers Squibb (NYSE:BMY)

Intech Investment Management LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 42.1% during the 4th quarter, HoldingsChannel reports. The fund owned 389,875 shares of the biopharmaceutical company’s stock after selling 283,629 shares during the quarter. Intech Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $20,004,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Duality Advisers LP acquired a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $210,000. EverSource Wealth Advisors LLC boosted its holdings in Bristol-Myers Squibb by 23.6% during the third quarter. EverSource Wealth Advisors LLC now owns 4,615 shares of the biopharmaceutical company’s stock worth $268,000 after purchasing an additional 881 shares during the last quarter. Syon Capital LLC acquired a new position in Bristol-Myers Squibb during the third quarter worth $398,000. NBC Securities Inc. acquired a new position in Bristol-Myers Squibb during the third quarter worth $477,000. Finally, Lincoln National Corp boosted its holdings in Bristol-Myers Squibb by 0.6% during the third quarter. Lincoln National Corp now owns 60,663 shares of the biopharmaceutical company’s stock worth $3,521,000 after purchasing an additional 361 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 0.7 %

Shares of BMY traded down $0.30 during trading hours on Friday, hitting $41.24. The company had a trading volume of 17,425,597 shares, compared to its average volume of 13,919,494. The business has a fifty day moving average of $47.80 and a 200-day moving average of $49.64. Bristol-Myers Squibb has a 12 month low of $41.07 and a 12 month high of $66.46. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the prior year, the company posted $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts predict that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.82%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays reduced their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, BMO Capital Markets dropped their price target 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb 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.