Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 19.9% during the fourth quarter, Holdings Channel reports. The firm owned 912,059 shares of the biopharmaceutical company’s stock after selling 226,406 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bristol-Myers Squibb were worth $46,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Bristol-Myers Squibb during the third quarter worth approximately $25,000. True Wealth Design LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $26,000. Milestone Investment Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $27,000. Coppell Advisory Solutions LLC acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $28,000. Finally, Blue Bell Private Wealth Management LLC increased its holdings in shares of Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $61.12.

Bristol-Myers Squibb Trading Down 0.5 %

NYSE:BMY opened at $48.27 on Wednesday. The company has a market capitalization of $97.83 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.39. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93. The stock has a fifty day simple moving average of $51.27 and a 200-day simple moving average of $51.62.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results 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 business had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.82 EPS. On average, equities research analysts expect that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.97%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.