Sheets Smith Wealth Management Has $3.18 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Sheets Smith Wealth Management boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 62,008 shares of the biopharmaceutical company’s stock after acquiring an additional 1,917 shares during the quarter. Sheets Smith Wealth Management’s holdings in Bristol-Myers Squibb were worth $3,182,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. OFI Invest Asset Management bought a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $25,000. Milestone Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth $27,000. Blue Bell Private Wealth Management LLC boosted its position 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 valued at $30,000 after acquiring an additional 200 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $40,000. Finally, Wetzel Investment Advisors Inc. bought a new position in Bristol-Myers Squibb during the fourth quarter worth about $40,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of BMY traded up $0.29 during trading hours on Friday, reaching $43.99. The stock had a trading volume of 12,104,489 shares, compared to its average volume of 14,314,010. The stock has a market capitalization of $89.17 billion, a PE ratio of -14.19, a PEG ratio of 14.82 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $43.33 and a 12 month 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’s 50-day moving average is $50.37 and its two-hundred day moving average is $50.65.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period last year, the firm posted $2.05 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.46%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analyst Ratings Changes

BMY has been the topic of a number of analyst reports. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. BMO Capital Markets dropped their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Barclays reduced their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.00.

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.