Gibraltar Capital Management Inc. Trims Holdings in Bristol-Myers Squibb (NYSE:BMY)

Gibraltar Capital Management Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 17.0% in the 4th quarter, HoldingsChannel reports. The firm owned 77,381 shares of the biopharmaceutical company’s stock after selling 15,818 shares during the quarter. Bristol-Myers Squibb makes up about 1.7% of Gibraltar Capital Management Inc.’s portfolio, making the stock its 25th largest position. Gibraltar Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,970,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $25,000. Milestone Investment Advisors LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $27,000. Blue Bell Private Wealth Management LLC raised its position in Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Legacy Financial Group LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $39,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $40,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Down 1.5 %

Bristol-Myers Squibb stock traded down $0.68 during trading on Tuesday, reaching $43.96. 17,712,926 shares of the company were exchanged, compared to its average volume of 15,994,846. Bristol-Myers Squibb has a 52-week low of $43.93 and a 52-week high of $69.10. The company has a market capitalization of $89.11 billion, a P/E ratio of -14.18, a PEG ratio of 15.47 and a beta of 0.39. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $50.81 and its two-hundred day simple moving average is $50.93.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter last year, the business posted $2.05 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.46%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent research reports. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. One 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.