Janney Capital Management LLC Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Janney Capital Management LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.2% during the first quarter, Holdings Channel reports. The firm owned 47,573 shares of the biopharmaceutical company’s stock after selling 1,083 shares during the quarter. Janney Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $2,580,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BMY. Adage Capital Partners GP L.L.C. purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at $9,297,000. Royal London Asset Management Ltd. grew its position in shares of Bristol-Myers Squibb by 11.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,588,968 shares of the biopharmaceutical company’s stock worth $92,263,000 after buying an additional 161,575 shares during the period. Cito Capital Group LLC grew its position in shares of Bristol-Myers Squibb by 2.1% in the 3rd quarter. Cito Capital Group LLC now owns 28,600 shares of the biopharmaceutical company’s stock worth $1,660,000 after buying an additional 600 shares during the period. Alethea Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $425,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $3,696,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BMY shares. Barclays reduced their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $0.20 during midday trading on Friday, hitting $39.66. 12,824,373 shares of the company’s stock traded hands, compared to its average volume of 15,346,125. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $65.38. The stock has a market capitalization of $80.39 billion, a price-to-earnings ratio of -12.79, a price-to-earnings-growth ratio of 13.71 and a beta of 0.44. 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 firm has a fifty day moving average of $42.27 and a 200 day moving average of $47.78.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

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.