Los Angeles Capital Management LLC Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

Los Angeles Capital Management LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 5.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,811,285 shares of the biopharmaceutical company’s stock after selling 101,964 shares during the quarter. Los Angeles Capital Management LLC owned 0.09% of Bristol-Myers Squibb worth $98,226,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $1,560,524,000. Van ECK Associates Corp raised its holdings in shares of Bristol-Myers Squibb by 792.6% in the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock valued at $206,828,000 after buying an additional 3,579,324 shares during the period. Primecap Management Co. CA raised its holdings in shares of Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after buying an additional 2,998,228 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after buying an additional 2,540,360 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Bristol-Myers Squibb by 36.7% in the 4th quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock valued at $480,118,000 after buying an additional 2,510,134 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BMY shares. BMO Capital Markets reduced their price target on 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. Barclays reduced their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.00.

Get Our Latest Research Report on BMY

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded down $0.16 during midday trading on Wednesday, hitting $40.81. The company had a trading volume of 18,747,217 shares, compared to its average volume of 14,438,554. The company’s 50 day simple moving average is $44.08 and its 200 day simple moving average is $48.61. Bristol-Myers Squibb has a 52-week low of $39.91 and a 52-week high of $66.38. The stock has a market cap of $82.73 billion, a price-to-earnings ratio of -13.16, a PEG ratio of 13.87 and a beta of 0.43. 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:BMYGet Free Report) last posted 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. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.05 EPS. Research analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.88%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Bristol-Myers Squibb Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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