Cullinan Associates Inc. Sells 4,946 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cullinan Associates Inc. reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,338 shares of the biopharmaceutical company’s stock after selling 4,946 shares during the quarter. Cullinan Associates Inc.’s holdings in Bristol-Myers Squibb were worth $5,929,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Northwest Financial Advisors bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $27,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $34,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $40,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $40,000. Finally, Fairman Group LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded down $0.65 during trading hours on Tuesday, reaching $40.65. The company’s stock had a trading volume of 4,441,577 shares, compared to its average volume of 15,691,983. The firm’s 50 day simple moving average is $42.97 and its 200-day simple moving average is $48.11. The company has a market capitalization of $82.40 billion, a price-to-earnings ratio of -13.09, a PEG ratio of 14.21 and a beta of 0.44. Bristol-Myers Squibb has a fifty-two week low of $39.63 and a fifty-two week high of $65.38. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate 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 company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. BMO Capital Markets reduced their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $60.00.

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.