NorthRock Partners LLC Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

NorthRock Partners LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 33.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 5,782 shares of the biopharmaceutical company’s stock after selling 2,857 shares during the quarter. NorthRock Partners LLC’s holdings in Bristol-Myers Squibb were worth $314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $1,560,524,000. Pzena Investment Management LLC lifted its holdings in Bristol-Myers Squibb by 119.8% during the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after purchasing an additional 6,701,097 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Bristol-Myers Squibb by 97.2% during the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after purchasing an additional 3,918,234 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after purchasing an additional 2,998,228 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Bristol-Myers Squibb by 48.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after buying an additional 2,540,360 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their price target on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. Wells Fargo & Company upped 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 reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, BMO Capital Markets decreased their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.07.

Bristol-Myers Squibb Price Performance

BMY traded down $0.31 during midday trading on Monday, hitting $40.15. The stock had a trading volume of 16,760,844 shares, compared to its average volume of 15,699,462. The company has a market cap of $81.39 billion, a P/E ratio of -12.95, a price-to-earnings-growth ratio of 14.05 and a beta of 0.44. The business has a fifty day moving average of $41.84 and a 200 day moving average of $47.26. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $65.38.

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 the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.