Tidal Investments LLC Has $4.55 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Tidal Investments LLC trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,201 shares of the biopharmaceutical company’s stock after selling 10,529 shares during the quarter. Tidal Investments LLC’s holdings in Bristol-Myers Squibb were worth $4,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMY. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $1,560,524,000. Capital International Investors increased its position in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. M&G Plc acquired a new stake in Bristol-Myers Squibb in the first quarter worth about $392,608,000. Pzena Investment Management LLC increased its position in Bristol-Myers Squibb by 119.8% in the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after buying an additional 5,461,767 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded up $1.10 during trading on Friday, reaching $49.27. 1,375,178 shares of the company’s stock were exchanged, compared to its average volume of 15,872,288. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $99.89 billion, a PE ratio of -15.54, a PEG ratio of 12.24 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.41. The firm’s fifty day moving average price is $42.24 and its 200-day moving average price is $46.76.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.78 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.87%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price on the stock. in a report on Monday. BMO Capital Markets cut their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft cut their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.79.

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.