Zurcher Kantonalbank Zurich Cantonalbank Sells 226,406 Shares of Bristol-Myers Squibb (NYSE:BMY)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 19.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 912,059 shares of the biopharmaceutical company’s stock after selling 226,406 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bristol-Myers Squibb were worth $46,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $25,000. True Wealth Design LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $26,000. Milestone Investment Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $27,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at about $28,000. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.5 %

NYSE BMY opened at $48.27 on Wednesday. The company has a market capitalization of $97.83 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.46 and a beta of 0.39. The stock has a 50 day moving average price of $51.27 and a 200-day moving average price of $51.62. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.97%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Analysts Set New Price Targets

BMY has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.12.

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.