Public Employees Retirement Association of Colorado Sells 16,056 Shares of Bristol-Myers Squibb (NYSE:BMY)

Public Employees Retirement Association of Colorado reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 287,431 shares of the biopharmaceutical company’s stock after selling 16,056 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Bristol-Myers Squibb were worth $15,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $27,000. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter valued at $27,000. Accordant Advisory Group Inc bought a new stake in shares of Bristol-Myers Squibb during the first quarter worth $31,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $40,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $48.97 on Tuesday. The stock has a market cap of $99.27 billion, a PE ratio of -15.80, a price-to-earnings-growth ratio of 17.25 and a beta of 0.44. The stock has a 50-day moving average of $41.87 and a 200-day moving average of $46.75. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 11.52%. The company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period last year, the business posted $1.75 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.90%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analysts Set New Price Targets

A number of brokerages have commented on BMY. Barclays lowered shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective on the stock. in a report on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, William Blair restated 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, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.79.

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.