Cadence Capital Management LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 202,430 shares of the biopharmaceutical company’s stock after selling 7,805 shares during the quarter. Bristol-Myers Squibb comprises approximately 0.8% of Cadence Capital Management LLC’s holdings, making the stock its 27th largest holding. Cadence Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $12,405,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in BMY. Delphi Private Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $108,000. Atlantic Trust LLC acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at $111,000. Massey Quick Simon & CO. LLC boosted its stake in shares of Bristol-Myers Squibb by 523.5% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,777 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 1,492 shares in the last quarter. Horan Capital Advisors LLC. acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at $122,000. Finally, BDO Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at $123,000. 71.51% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on BMY. Citigroup set a $78.00 target price on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Friday, February 16th. Jefferies Group set a $72.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Monday, February 26th. TheStreet cut Bristol-Myers Squibb from a “b” rating to a “c+” rating in a report on Thursday, March 8th. DZ Bank cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, Argus reaffirmed a “buy” rating and issued a $66.43 price target (down from $75.00) on shares of Bristol-Myers Squibb in a research note on Wednesday, March 21st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $66.68.
NYSE:BMY traded down $1.25 during trading hours on Monday, reaching $62.00. 6,319,734 shares of the stock were exchanged, compared to its average volume of 7,663,559. Bristol-Myers Squibb has a twelve month low of $51.56 and a twelve month high of $70.05. The company has a quick ratio of 1.43, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The company has a market cap of $103,260.88, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 1.64 and a beta of 0.96.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Bristol-Myers Squibb had a return on equity of 35.43% and a net margin of 4.85%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. The business’s revenue was up 3.9% on a year-over-year basis. analysts anticipate that Bristol-Myers Squibb will post 3.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Friday, April 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Thursday, April 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 53.16%.
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Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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