Westside Investment Management Inc. Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Westside Investment Management Inc. lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,761 shares of the biopharmaceutical company’s stock after selling 395 shares during the period. Westside Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $366,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC lifted its stake in Bristol-Myers Squibb by 1,004.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 94,351 shares of the biopharmaceutical company’s stock valued at $5,476,000 after acquiring an additional 85,812 shares during the period. Alps Advisors Inc. lifted its stake in shares of Bristol-Myers Squibb by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 106,263 shares of the biopharmaceutical company’s stock valued at $6,168,000 after purchasing an additional 17,825 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $9,297,000. KPP Advisory Services LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $582,000. Finally, Seven Eight Capital LP lifted its stake in shares of Bristol-Myers Squibb by 117.3% in the 3rd quarter. Seven Eight Capital LP now owns 54,207 shares of the biopharmaceutical company’s stock valued at $3,146,000 after purchasing an additional 29,263 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Barclays reduced their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $40.06 on Thursday. The firm’s 50-day moving average is $42.64 and its two-hundred day moving average is $47.97. Bristol-Myers Squibb has a 12 month low of $39.63 and a 12 month high of $65.38. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its 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 negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the prior year, the company posted $2.05 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 5.99%. Bristol-Myers Squibb’s 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.