Garde Capital Inc. Cuts Position in Bristol-Myers Squibb (NYSE:BMY)

Garde Capital Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,248 shares of the biopharmaceutical company’s stock after selling 279 shares during the period. Garde Capital Inc.’s holdings in Bristol-Myers Squibb were worth $121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMY. PFG Advisors raised its holdings in shares of Bristol-Myers Squibb by 6.1% in the 4th quarter. PFG Advisors now owns 5,649 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 323 shares during the period. Trust Point Inc. bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at $904,000. Richard W. Paul & Associates LLC raised its holdings in Bristol-Myers Squibb by 50.8% during the 4th quarter. Richard W. Paul & Associates LLC now owns 11,791 shares of the biopharmaceutical company’s stock valued at $605,000 after acquiring an additional 3,973 shares during the period. GAM Holding AG raised its holdings in Bristol-Myers Squibb by 115.3% during the 4th quarter. GAM Holding AG now owns 237,813 shares of the biopharmaceutical company’s stock valued at $12,202,000 after acquiring an additional 127,363 shares during the period. Finally, Visionary Horizons LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at $643,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. 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 on the stock in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of 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, Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $55.79.

Bristol-Myers Squibb Trading Up 1.2 %

Shares of NYSE BMY traded up $0.60 during trading hours on Friday, hitting $48.77. The company’s stock had a trading volume of 15,601,503 shares, compared to its average volume of 17,378,216. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.99 and a current ratio of 1.16. The stock has a market cap of $98.88 billion, a price-to-earnings ratio of -15.73, a P/E/G ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.41. The business has a 50-day simple moving average of $42.39 and a 200-day simple moving average of $46.75.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period last year, the business posted $1.75 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 4.92%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.