Sterling Investment Management LLC Sells 410 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sterling Investment Management LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,778 shares of the biopharmaceutical company’s stock after selling 410 shares during the quarter. Sterling Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $1,066,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brown Shipley& Co Ltd lifted its stake in shares of Bristol-Myers Squibb by 1.8% during the second quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 164 shares during the period. Riversedge Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 3.2% during the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 178 shares in the last quarter. Vicus Capital grew its holdings in shares of Bristol-Myers Squibb by 3.9% during the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after buying an additional 179 shares in the last quarter. Cassia Capital Partners LLC boosted its position in Bristol-Myers Squibb by 2.3% during the third quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock valued at $460,000 after purchasing an additional 182 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its position in Bristol-Myers Squibb by 2.3% during the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 1.3 %

Shares of BMY stock opened at $53.25 on Thursday. The stock has a market cap of $107.92 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.59 and a beta of 0.38. The stock has a 50-day moving average of $50.73 and a 200-day moving average of $52.43. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $71.07.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the firm posted $1.82 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb announced that its Board of Directors has approved a share buyback plan on Thursday, December 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.51%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company cut their price objective on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 6th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Redburn Atlantic lowered 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. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.12.

About Bristol-Myers Squibb

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.