Bahl & Gaynor Inc. Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

Bahl & Gaynor Inc. lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,385 shares of the biopharmaceutical company’s stock after selling 4,220 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Bristol-Myers Squibb were worth $2,226,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Boston Trust Walden Corp lifted its holdings in shares of Bristol-Myers Squibb by 5.3% during the third quarter. Boston Trust Walden Corp now owns 15,258 shares of the biopharmaceutical company’s stock valued at $886,000 after purchasing an additional 771 shares during the last quarter. Strategic Blueprint LLC raised its stake in Bristol-Myers Squibb by 8.6% during the third quarter. Strategic Blueprint LLC now owns 5,440 shares of the biopharmaceutical company’s stock valued at $316,000 after buying an additional 431 shares during the last quarter. Connecticut Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the third quarter worth $240,000. Grimes & Company Inc. grew its stake in shares of Bristol-Myers Squibb by 4.4% in the third quarter. Grimes & Company Inc. now owns 331,440 shares of the biopharmaceutical company’s stock worth $19,237,000 after acquiring an additional 14,084 shares during the last quarter. Finally, Zullo Investment Group Inc. increased its holdings in shares of Bristol-Myers Squibb by 8.1% during the third quarter. Zullo Investment Group Inc. now owns 3,506 shares of the biopharmaceutical company’s stock valued at $203,000 after acquiring an additional 262 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $44.85 on Friday. The firm’s 50 day moving average price is $51.03 and its 200-day moving average price is $51.18. Bristol-Myers Squibb has a twelve month low of $44.34 and a twelve month high of $69.10. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $90.90 billion, a PE ratio of -14.47, a price-to-earnings-growth ratio of 16.25 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the prior year, the business earned $2.05 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Bristol-Myers Squibb will post 0.55 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMY. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Barclays lowered their price objective 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. Finally, Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $60.00.

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.