Baxter Bros Inc. Sells 8,919 Shares of Bristol-Myers Squibb (NYSE:BMY)

Baxter Bros Inc. reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 28.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,956 shares of the biopharmaceutical company’s stock after selling 8,919 shares during the period. Baxter Bros Inc.’s holdings in Bristol-Myers Squibb were worth $1,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $25,000. Milestone Investment Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at $27,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Legacy Financial Group LLC bought a new position in Bristol-Myers Squibb during the third quarter valued at about $39,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $40,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded up $0.29 during mid-day trading on Friday, reaching $43.99. The stock had a trading volume of 12,104,489 shares, compared to its average volume of 14,314,010. The stock has a market capitalization of $89.17 billion, a P/E ratio of -14.19, a P/E/G ratio of 14.82 and a beta of 0.45. The firm has a 50 day moving average price of $50.37 and a two-hundred day moving average price of $50.74. 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 has a one year low of $43.33 and a one year high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period last year, the firm posted $2.05 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.46%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BMY. BMO Capital Markets lowered their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Barclays decreased their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.00.

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.