Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 46.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,307 shares of the biopharmaceutical company’s stock after selling 28,412 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Bristol-Myers Squibb were worth $1,709,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BMY. Certuity LLC lifted its stake in Bristol-Myers Squibb by 55.9% during the fourth quarter. Certuity LLC now owns 40,729 shares of the biopharmaceutical company’s stock worth $2,090,000 after purchasing an additional 14,606 shares during the last quarter. Norden Group LLC lifted its position in shares of Bristol-Myers Squibb by 7.8% in the 4th quarter. Norden Group LLC now owns 10,633 shares of the biopharmaceutical company’s stock worth $546,000 after buying an additional 773 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its holdings in shares of Bristol-Myers Squibb by 3.4% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 18,437 shares of the biopharmaceutical company’s stock valued at $946,000 after buying an additional 600 shares during the period. Kestra Private Wealth Services LLC grew its position in shares of Bristol-Myers Squibb by 9.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 152,909 shares of the biopharmaceutical company’s stock valued at $7,846,000 after buying an additional 13,098 shares during the last quarter. Finally, Ledyard National Bank raised its stake in Bristol-Myers Squibb by 1.3% during the fourth quarter. Ledyard National Bank now owns 31,183 shares of the biopharmaceutical company’s stock worth $1,600,000 after acquiring an additional 393 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BMY shares. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Barclays lowered their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, BMO Capital Markets reduced their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $0.70 during mid-day trading on Tuesday, reaching $43.94. 17,467,906 shares of the stock were exchanged, compared to its average volume of 15,991,819. Bristol-Myers Squibb has a 1-year low of $43.93 and a 1-year high of $69.10. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The firm has a market capitalization of $89.07 billion, a PE ratio of -14.38, a PEG ratio of 15.47 and a beta of 0.39. The business has a fifty day moving average price of $50.93 and a 200 day moving average price of $51.02.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 EPS. Research analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

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.