Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 11.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,867 shares of the biopharmaceutical company’s stock after selling 2,522 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Bristol-Myers Squibb were worth $1,019,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Bristol-Myers Squibb in the third quarter valued at $25,000. Milestone Investment Advisors LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter valued at about $27,000. Blue Bell Private Wealth Management LLC boosted its stake in Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 200 shares during the period. Legacy Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter valued at about $39,000. Finally, VisionPoint Advisory Group LLC raised its stake in shares of Bristol-Myers Squibb by 300.5% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 553 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Trading Down 0.3 %

BMY stock traded down $0.14 during trading on Tuesday, reaching $49.00. 9,147,169 shares of the stock traded hands, compared to its average volume of 15,525,874. The firm has a market capitalization of $99.31 billion, a PE ratio of 12.76, a P/E/G ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The business’s 50 day moving average price is $51.22 and its 200-day moving average price is $51.38.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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 company had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 earnings per share. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.90%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

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.