Paragon Capital Management LLC Decreases Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Paragon Capital Management LLC lessened its stake in Bristol Myers Squibb Company (NYSE:BMY) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,994 shares of the biopharmaceutical company’s stock after selling 1,247 shares during the quarter. Bristol Myers Squibb comprises about 0.6% of Paragon Capital Management LLC’s holdings, making the stock its 27th largest holding. Paragon Capital Management LLC’s holdings in Bristol Myers Squibb were worth $1,097,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $1,989,525,000. Ameriprise Financial Inc. raised its position in shares of Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Bristol Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock valued at $705,309,000 after purchasing an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Bristol Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after purchasing an additional 5,827,317 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Bristol Myers Squibb by 49.7% during the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock valued at $639,837,000 after acquiring an additional 3,787,075 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Performance

BMY traded down $0.66 during midday trading on Friday, reaching $47.40. The company’s stock had a trading volume of 10,713,205 shares, compared to its average volume of 12,765,105. The stock has a market cap of $96.46 billion, a P/E ratio of 17.75, a PEG ratio of 2.47 and a beta of 0.36. The company has a fifty day simple moving average of $47.47 and a 200 day simple moving average of $52.94. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a twelve month low of $41.61 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned ($4.40) EPS. Research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.23%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 92.88%.

Analyst Ratings Changes

Several research firms recently issued reports on BMY. Morgan Stanley dropped their price target on Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating on the stock in a research report on Thursday, July 10th. UBS Group lowered their price objective on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Argus upgraded Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.69.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president owned 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

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.