Pettee Investors Inc. Sells 1,332 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Pettee Investors Inc. reduced its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,311 shares of the biopharmaceutical company’s stock after selling 1,332 shares during the period. Bristol Myers Squibb comprises 1.5% of Pettee Investors Inc.’s investment portfolio, making the stock its 22nd largest holding. Pettee Investors Inc.’s holdings in Bristol Myers Squibb were worth $2,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMY. Brighton Jones LLC lifted its stake in shares of Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after acquiring an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $13,094,000. Proficio Capital Partners LLC acquired a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $240,000. Madison Investment Advisors LLC acquired a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $213,000. Finally, Parallel Advisors LLC lifted its stake in shares of Bristol Myers Squibb by 2.4% in the fourth quarter. Parallel Advisors LLC now owns 34,851 shares of the biopharmaceutical company’s stock worth $1,971,000 after acquiring an additional 829 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Trading Up 1.6%

NYSE BMY opened at $47.16 on Thursday. The firm has a market capitalization of $95.98 billion, a P/E ratio of 17.66, a PEG ratio of 2.39 and a beta of 0.36. The business has a fifty day simple moving average of $47.42 and a 200 day simple moving average of $53.06. Bristol Myers Squibb Company has a 12 month low of $41.20 and a 12 month high of $63.33. 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 (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. Bristol Myers Squibb’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($4.40) EPS. On average, analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders 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 dividend on an annualized basis and a yield of 5.26%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. 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 note on Thursday, July 10th. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Jefferies Financial Group dropped their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Finally, Argus raised Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $57.69.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP Samit Hirawat purchased 4,250 shares of the business’s stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president owned 83,513 shares of the company’s stock, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

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.