Synergy Asset Management LLC Sells 1,669 Shares of Bristol-Myers Squibb (NYSE:BMY)

Synergy Asset Management LLC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.1% in the first quarter, HoldingsChannel reports. The fund owned 52,578 shares of the biopharmaceutical company’s stock after selling 1,669 shares during the period. Synergy Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $2,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. McClarren Financial Advisors Inc. increased its position in Bristol-Myers Squibb by 532.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after buying an additional 1,582 shares during the period. Institute for Wealth Management LLC. increased its position in Bristol-Myers Squibb by 1.0% during the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after acquiring an additional 296 shares during the period. Great Diamond Partners LLC boosted its holdings in Bristol-Myers Squibb by 9.2% in the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after purchasing an additional 367 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $5,161,000. Finally, Principal Securities Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $1,139,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 1.9 %

NYSE BMY traded down $0.79 on Tuesday, hitting $40.51. 6,704,647 shares of the company were exchanged, compared to its average volume of 15,709,944. 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 fifty day moving average of $42.97 and a 200-day moving average of $48.11. The company has a market cap of $82.12 billion, a PE ratio of -13.09, a PEG ratio of 14.21 and a beta of 0.44. Bristol-Myers Squibb has a 12 month low of $39.63 and a 12 month high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate 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 negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 earnings per share. As a group, analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analyst Ratings Changes

BMY has been the subject of several recent research reports. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. BMO Capital Markets dropped their target price on shares of 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. Finally, Barclays reduced their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.00.

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.