Bourne Lent Asset Management Inc. Has $8.82 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Bourne Lent Asset Management Inc. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,552 shares of the biopharmaceutical company’s stock after selling 5,705 shares during the quarter. Bristol-Myers Squibb comprises 3.6% of Bourne Lent Asset Management Inc.’s holdings, making the stock its 9th biggest position. Bourne Lent Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $8,815,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Northwest Financial Advisors acquired a new position in Bristol-Myers Squibb during the fourth quarter worth about $27,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $40,000. Wetzel Investment Advisors Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $40,000. Finally, Fairman Group LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Barclays decreased their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 17th. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $60.00.

Read Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Stock Down 0.2 %

BMY stock traded down $0.07 during trading hours on Tuesday, hitting $42.16. The company’s stock had a trading volume of 7,729,576 shares, compared to its average volume of 15,605,791. The stock has a 50 day moving average price of $43.48 and a two-hundred day moving average price of $48.37. Bristol-Myers Squibb has a 12 month low of $39.63 and a 12 month high of $65.38. The company has a market capitalization of $85.46 billion, a PE ratio of -13.50, a price-to-earnings-growth ratio of 14.02 and a beta of 0.43. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the company posted $2.05 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.6 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 5.69%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

About Bristol-Myers Squibb

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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