Franklin Street Advisors Inc. NC Decreases Position in Bristol-Myers Squibb (NYSE:BMY)

Franklin Street Advisors Inc. NC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,595 shares of the biopharmaceutical company’s stock after selling 1,020 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Bristol-Myers Squibb were worth $520,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on BMY shares. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. BMO Capital Markets dropped their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Barclays lowered their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded down $0.87 during mid-day trading on Thursday, hitting $41.63. The company’s stock had a trading volume of 9,229,264 shares, compared to its average volume of 15,656,354. The business’s fifty day moving average is $43.25 and its two-hundred day moving average is $48.27. The stock has a market cap of $84.39 billion, a price-to-earnings ratio of -13.56, a PEG ratio of 14.28 and a beta of 0.43. Bristol-Myers Squibb has a 1 year low of $39.63 and a 1 year high of $65.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. Analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.