Bristol-Myers Squibb (NYSE:BMY) Position Increased by Sheets Smith Wealth Management

Sheets Smith Wealth Management increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,008 shares of the biopharmaceutical company’s stock after buying an additional 1,917 shares during the quarter. Sheets Smith Wealth Management’s holdings in Bristol-Myers Squibb were worth $3,182,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BMY. Van ECK Associates Corp increased its holdings in shares of Bristol-Myers Squibb by 792.6% during the fourth quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock valued at $206,828,000 after purchasing an additional 3,579,324 shares during the period. Pacer Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $86,965,000. Mizuho Markets Americas LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at approximately $82,405,000. Finally, Northern Trust Corp increased its stake in shares of Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after acquiring an additional 1,394,158 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BMY shares. BMO Capital Markets lowered 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. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, Wells Fargo & Company increased their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of NYSE BMY traded up $0.29 during mid-day trading on Friday, reaching $43.99. The company had a trading volume of 12,104,489 shares, compared to its average volume of 14,314,010. The stock has a fifty day moving average of $50.37 and a two-hundred day moving average of $50.65. Bristol-Myers Squibb has a 12-month low of $43.33 and a 12-month high of $69.10. The company has a market capitalization of $89.17 billion, a price-to-earnings ratio of -14.19, a PEG ratio of 14.82 and a beta of 0.45. 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 (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the business posted $2.05 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.46%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Bristol-Myers Squibb 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.