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

LSV Asset Management lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,735,463 shares of the biopharmaceutical company’s stock after selling 261,300 shares during the quarter. Bristol-Myers Squibb makes up 1.0% of LSV Asset Management’s investment portfolio, making the stock its 11th biggest position. LSV Asset Management’s holdings in Bristol-Myers Squibb were worth $448,217,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Northern Trust Corp grew its position in Bristol-Myers Squibb by 5.8% in the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after acquiring an additional 1,394,158 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Bristol-Myers Squibb by 8.6% in the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock valued at $905,806,000 after purchasing an additional 1,240,902 shares during the period. Pacer Advisors Inc. increased its stake in Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Bristol-Myers Squibb by 3.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,594,092 shares of the biopharmaceutical company’s stock worth $287,033,000 after buying an additional 172,769 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its position in Bristol-Myers Squibb by 13.8% in the 3rd quarter. Pzena Investment Management LLC now owns 4,924,194 shares of the biopharmaceutical company’s stock valued at $285,800,000 after buying an additional 596,625 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded up $0.29 during midday trading on Friday, hitting $43.99. The stock had a trading volume of 12,104,489 shares, compared to its average volume of 14,314,010. Bristol-Myers Squibb has a 1 year low of $43.33 and a 1 year high of $69.10. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The stock has a 50 day moving average price of $50.37 and a two-hundred day moving average price of $50.74. The company has a market capitalization of $89.17 billion, a PE ratio of -14.19, a P/E/G ratio of 14.82 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.46%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Barclays cut their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. BMO Capital Markets decreased their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb 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.