Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 44.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 379,325 shares of the biopharmaceutical company’s stock after selling 300,150 shares during the quarter. Lazard Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $21,453,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Leigh Baldwin & CO. LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $30,207,000. Laird Norton Wetherby Wealth Management LLC grew its position in shares of Bristol-Myers Squibb by 5.3% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 44,911 shares of the biopharmaceutical company’s stock worth $2,540,000 after acquiring an additional 2,269 shares in the last quarter. Integral Health Asset Management LLC grew its position in shares of Bristol-Myers Squibb by 100.0% in the 4th quarter. Integral Health Asset Management LLC now owns 350,000 shares of the biopharmaceutical company’s stock worth $19,796,000 after acquiring an additional 175,000 shares in the last quarter. Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $463,000. Finally, Guardian Wealth Advisors LLC NC grew its position in shares of Bristol-Myers Squibb by 22.2% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 5,198 shares of the biopharmaceutical company’s stock worth $294,000 after acquiring an additional 946 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 3.3%

Shares of Bristol-Myers Squibb stock opened at $46.58 on Wednesday. The business’s fifty day moving average price is $54.03 and its two-hundred day moving average price is $56.14. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The company has a market capitalization of $94.79 billion, a P/E ratio of -10.54, a PEG ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter in the previous year, the business earned ($4.40) EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.32%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Analyst Ratings Changes

Several brokerages have recently commented on BMY. UBS Group decreased their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Argus raised Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Jefferies Financial Group cut their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.00.

Insider Activity

In related news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. The trade was a 2.94% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is owned by insiders.

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.