Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Israel Discount Bank of New York

Israel Discount Bank of New York decreased its stake in Bristol-Myers Squibb (NYSE:BMY) by 5.5% in the 4th quarter, Holdings Channel reports. The firm owned 5,784 shares of the biopharmaceutical company’s stock after selling 336 shares during the quarter. Israel Discount Bank of New York’s holdings in Bristol-Myers Squibb were worth $297,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BMY. OFI Invest Asset Management purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $25,000. Milestone Investment Advisors LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $27,000. Blue Bell Private Wealth Management LLC increased its holdings in Bristol-Myers Squibb by 61.5% during the 3rd 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 stake in shares of Bristol-Myers Squibb during the third quarter worth about $39,000. Finally, VisionPoint Advisory Group LLC grew its holdings in shares of Bristol-Myers Squibb by 300.5% during the third quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 553 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded down $0.26 during midday trading on Monday, hitting $44.59. The stock had a trading volume of 11,284,260 shares, compared to its average volume of 15,904,406. The firm’s fifty day moving average is $51.03 and its two-hundred day moving average is $51.10. The company has a market capitalization of $90.39 billion, a PE ratio of -14.41, a P/E/G 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 current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping 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 the consensus estimate of $11.45 billion. During the same period in the prior year, the company posted $2.05 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm 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 $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.38%. Bristol-Myers Squibb’s payout ratio is -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.