Skylands Capital LLC Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Skylands Capital LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,025 shares of the biopharmaceutical company’s stock after selling 17,875 shares during the quarter. Bristol-Myers Squibb accounts for about 1.4% of Skylands Capital LLC’s investment portfolio, making the stock its 18th largest holding. Skylands Capital LLC’s holdings in Bristol-Myers Squibb were worth $9,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

BMY has been the subject of several recent research reports. Barclays lowered their price objective 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. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a 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. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.25 on Monday, reaching $44.60. The company’s stock had a trading volume of 9,303,833 shares, compared to its average volume of 15,880,156. The company has a market cap of $90.41 billion, a P/E ratio of -14.41, a PEG ratio of 15.47 and a beta of 0.39. Bristol-Myers Squibb has a 52-week low of $44.34 and a 52-week 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 company has a 50-day simple moving average of $51.03 and a 200 day simple moving average of $51.10.

Bristol-Myers Squibb (NYSE:BMY) last posted 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. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period last year, the company earned $2.05 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.38%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Bristol-Myers Squibb Company 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.