Court Place Advisors LLC Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Court Place Advisors LLC lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 18.3% during the fourth quarter, HoldingsChannel reports. The firm owned 14,953 shares of the biopharmaceutical company’s stock after selling 3,339 shares during the period. Court Place Advisors LLC’s holdings in Bristol-Myers Squibb were worth $767,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BMY. OFI Invest Asset Management purchased a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $25,000. True Wealth Design LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $26,000. Milestone Investment Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $27,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $28,000. Finally, Blue Bell Private Wealth Management LLC increased 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 buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BMY. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. 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. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded down $0.43 during midday trading on Wednesday, hitting $47.83. 11,759,869 shares of the stock traded hands, compared to its average volume of 15,847,523. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93. The firm has a market capitalization of $96.94 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.46 and a beta of 0.39. 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 business’s 50 day moving average price is $51.27 and its two-hundred day moving average price is $51.62.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 EPS. Equities research analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.02%. Bristol-Myers Squibb’s payout ratio is presently 62.18%.

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.