Bailard Inc. Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Bailard Inc. reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 91.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,649 shares of the biopharmaceutical company’s stock after selling 162,366 shares during the period. Bailard Inc.’s holdings in Bristol-Myers Squibb were worth $803,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BMY. Institute for Wealth Management LLC. grew its position in Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after buying an additional 296 shares during the last quarter. Herold Advisors Inc. grew its position in Bristol-Myers Squibb by 3.2% in the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after buying an additional 1,051 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in Bristol-Myers Squibb by 9.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock valued at $8,115,000 after buying an additional 12,121 shares during the last quarter. Metis Global Partners LLC grew its position in Bristol-Myers Squibb by 14.8% in the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock valued at $5,907,000 after buying an additional 13,122 shares during the last quarter. Finally, Signaturefd LLC grew its position in Bristol-Myers Squibb by 0.5% in the 3rd quarter. Signaturefd LLC now owns 105,986 shares of the biopharmaceutical company’s stock valued at $6,151,000 after buying an additional 564 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMY has been the subject of a number of recent analyst reports. BMO Capital Markets reduced their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Trading Up 0.4 %

Shares of NYSE:BMY opened at $44.86 on Friday. 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 $44.34 and a 1 year high of $69.10. The stock has a 50-day simple moving average of $51.03 and a 200-day simple moving average of $51.18.

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

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a 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%.

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.