Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Corrado Advisors LLC

Corrado Advisors LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,332 shares of the biopharmaceutical company’s stock after selling 1,316 shares during the quarter. Corrado Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,813,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in Bristol-Myers Squibb by 5.8% in the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after buying an additional 1,394,158 shares in the last quarter. Invesco Ltd. grew its holdings in Bristol-Myers Squibb by 8.6% in the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock valued at $905,806,000 after buying an additional 1,240,902 shares in the last quarter. Pacer Advisors Inc. grew its holdings 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 worth $401,806,000 after purchasing an additional 2,540,360 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Bristol-Myers Squibb by 3.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,594,092 shares of the biopharmaceutical company’s stock worth $287,033,000 after purchasing an additional 172,769 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in shares of Bristol-Myers Squibb by 13.8% during the 3rd quarter. Pzena Investment Management LLC now owns 4,924,194 shares of the biopharmaceutical company’s stock worth $285,800,000 after purchasing an additional 596,625 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Price Performance

BMY stock traded down $0.14 during midday trading on Tuesday, hitting $49.00. 9,147,169 shares of the stock were exchanged, compared to its average volume of 15,525,874. The stock’s 50-day moving average price is $51.22 and its 200-day moving average price is $51.38. The stock has a market cap of $99.31 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $70.93. 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 (NYSE:BMY) last issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion during 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%. Bristol-Myers Squibb’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 earnings per share. Research analysts predict that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

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

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.