Sector Gamma AS Trims Position in Bristol-Myers Squibb (NYSE:BMY)

Sector Gamma AS reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 44.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 374,687 shares of the biopharmaceutical company’s stock after selling 297,093 shares during the quarter. Bristol-Myers Squibb comprises 4.7% of Sector Gamma AS’s portfolio, making the stock its 6th biggest holding. Sector Gamma AS’s holdings in Bristol-Myers Squibb were worth $19,225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Bristol-Myers Squibb during the third quarter valued at about $25,000. Milestone Investment Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the third quarter valued at about $27,000. Blue Bell Private Wealth Management LLC grew its stake in shares of 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 worth $30,000 after purchasing an additional 200 shares during the last quarter. Legacy Financial Group LLC bought a new stake in shares of Bristol-Myers Squibb in the third quarter worth about $39,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $40,000. 76.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BMY shares. BMO Capital Markets cut their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Barclays cut their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One 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, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded up $0.15 during mid-day trading on Friday, reaching $44.85. 21,281,927 shares of the company’s stock traded hands, compared to its average volume of 12,141,314. Bristol-Myers Squibb has a 12 month low of $44.34 and a 12 month high of $69.10. The firm has a 50 day moving average price of $51.03 and a two-hundred day moving average price of $51.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The firm has a market capitalization of $90.90 billion, a PE ratio of -14.47, a price-to-earnings-growth ratio of 16.25 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 EPS. On average, research analysts forecast that Bristol-Myers Squibb will post 0.55 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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

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.