New York State Common Retirement Fund Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

New York State Common Retirement Fund lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,822,197 shares of the biopharmaceutical company’s stock after selling 363,470 shares during the period. New York State Common Retirement Fund owned about 0.14% of Bristol-Myers Squibb worth $144,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its holdings in shares of Bristol-Myers Squibb by 48.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after purchasing an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $86,965,000. Mizuho Markets Americas LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $82,405,000. Northern Trust Corp lifted 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 buying an additional 1,394,158 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Bristol-Myers Squibb by 8.6% during the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock valued at $905,806,000 after buying an additional 1,240,902 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent analyst reports. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Company upped their price objective 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. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.18.

Bristol-Myers Squibb Stock Up 0.1 %

BMY traded up $0.04 during trading hours on Tuesday, reaching $49.18. 2,343,238 shares of the stock traded hands, compared to its average volume of 15,436,951. The firm’s fifty day simple moving average is $51.22 and its two-hundred day simple moving average is $51.38. The company has a market cap of $99.68 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $70.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $1.82 EPS. As a group, analysts forecast that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.