Bristol-Myers Squibb (NYSE:BMY) Shares Sold by FLC Capital Advisors

FLC Capital Advisors reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,968 shares of the biopharmaceutical company’s stock after selling 277 shares during the quarter. FLC Capital Advisors’ holdings in Bristol-Myers Squibb were worth $306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. True Wealth Design LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $26,000. Coppell Advisory Solutions Corp. bought a new position in Bristol-Myers Squibb during the fourth quarter valued at about $31,000. Coppell Advisory Solutions LLC bought a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at about $28,000. Live Oak Investment Partners acquired a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $33,000. Finally, OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb in the third quarter worth approximately $25,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of analyst reports. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Wells Fargo & Company reduced their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded up $0.98 on Thursday, hitting $54.23. The company had a trading volume of 13,440,021 shares, compared to its average volume of 16,859,297. The stock has a market cap of $109.91 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.59 and a beta of 0.38. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $71.07. The stock has a 50 day moving average price of $50.79 and a 200 day moving average price of $52.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter last year, the company earned $1.82 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Bristol-Myers Squibb declared that its board has approved a share repurchase program on Thursday, December 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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.