Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,198 shares of the biopharmaceutical company’s stock after purchasing an additional 1,070 shares during the period. Convergence Investment Partners LLC’s holdings in Bristol-Myers Squibb were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. OFI Invest Asset Management purchased a new stake in Bristol-Myers Squibb during the third quarter worth about $25,000. Milestone Investment Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $27,000. Blue Bell Private Wealth Management LLC grew its holdings in shares of Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 200 shares during the period. Legacy Financial Group LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $39,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $40,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $44.85 on Monday. Bristol-Myers Squibb has a 1 year low of $44.34 and a 1 year high of $69.10. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The firm has a 50 day moving average price of $51.03 and a 200 day moving average price of $51.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during 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 quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 EPS. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of research analyst reports. Barclays dropped their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.00.

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.