Cannell & Co. Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cannell & Co. decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 274,317 shares of the biopharmaceutical company’s stock after selling 25,073 shares during the quarter. Cannell & Co.’s holdings in Bristol-Myers Squibb were worth $14,075,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Hexagon Capital Partners LLC increased its stake in shares of Bristol-Myers Squibb by 39.2% during the 4th quarter. Hexagon Capital Partners LLC now owns 14,041 shares of the biopharmaceutical company’s stock worth $720,000 after purchasing an additional 3,955 shares in the last quarter. Arnhold LLC increased its position in Bristol-Myers Squibb by 25.3% during the fourth quarter. Arnhold LLC now owns 319,803 shares of the biopharmaceutical company’s stock worth $16,409,000 after buying an additional 64,533 shares in the last quarter. MONECO Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 34.6% in the fourth quarter. MONECO Advisors LLC now owns 9,689 shares of the biopharmaceutical company’s stock worth $497,000 after acquiring an additional 2,490 shares during the last quarter. Northcape Wealth Management LLC lifted its position in shares of Bristol-Myers Squibb by 6.4% in the fourth quarter. Northcape Wealth Management LLC now owns 6,684 shares of the biopharmaceutical company’s stock valued at $343,000 after acquiring an additional 402 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors increased its position in Bristol-Myers Squibb by 107.5% during the 4th quarter. Vanguard Capital Wealth Advisors now owns 8,300 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 4,300 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of several analyst reports. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Barclays decreased their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

BMY stock traded up $0.29 on Wednesday, reaching $44.23. The company’s stock had a trading volume of 5,325,256 shares, compared to its average volume of 15,862,958. Bristol-Myers Squibb has a 52 week low of $43.73 and a 52 week high of $69.10. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The company has a market capitalization of $89.66 billion, a P/E ratio of -14.28, a price-to-earnings-growth ratio of 15.39 and a beta of 0.39. The firm has a fifty day moving average of $50.81 and a two-hundred day moving average of $50.93.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating 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 8.83%. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter last year, the company earned $2.05 EPS. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal 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 given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.43%. 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.