Cutter & CO Brokerage Inc. Trims Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cutter & CO Brokerage Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,867 shares of the biopharmaceutical company’s stock after selling 2,522 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Bristol-Myers Squibb were worth $1,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Riversedge Advisors LLC increased its position in shares of Bristol-Myers Squibb by 3.2% during the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after buying an additional 178 shares during the period. Vicus Capital boosted its stake in Bristol-Myers Squibb by 3.9% during the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 179 shares during the period. Lindbrook Capital LLC raised its stake in Bristol-Myers Squibb by 2.3% in the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 182 shares in the last quarter. Addison Advisors LLC lifted its position in Bristol-Myers Squibb by 6.6% during the third quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 192 shares during the last quarter. Finally, Symphony Financial Ltd. Co. grew its stake in Bristol-Myers Squibb by 4.1% in the 3rd quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 194 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on BMY shares. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Wells Fargo & Company lifted their price target 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. Finally, Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded down $0.14 during trading on Tuesday, reaching $49.00. 9,147,169 shares of the stock traded hands, compared to its average volume of 15,525,874. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The company has a market capitalization of $99.31 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93. The business has a fifty day simple moving average of $51.22 and a two-hundred day simple moving average of $51.38.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The company’s revenue was up .6% compared to the same quarter last year. Sell-side analysts expect that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.