Highland Capital Management LLC Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

Highland Capital Management LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 71,689 shares of the biopharmaceutical company’s stock after selling 742 shares during the period. Highland Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $3,888,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BMY. Northwest Financial Advisors purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $27,000. Accordant Advisory Group Inc purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $31,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $40,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. BMO Capital Markets cut 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 note on Friday, April 26th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Barclays cut their target price on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $59.07.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded down $0.29 on Friday, hitting $40.46. 16,677,463 shares of the company traded hands, compared to its average volume of 15,541,226. The company has a market capitalization of $82.02 billion, a price-to-earnings ratio of -13.05, a P/E/G ratio of 13.84 and a beta of 0.44. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The business’s 50 day moving average price is $41.92 and its 200-day moving average price is $47.36. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 earnings per share. Equities analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.93%. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.