Matrix Trust Co Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Matrix Trust Co reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,713 shares of the biopharmaceutical company’s stock after selling 642 shares during the period. Matrix Trust Co’s holdings in Bristol-Myers Squibb were worth $1,165,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BMY. Boston Trust Walden Corp grew its position in shares of Bristol-Myers Squibb by 5.3% during the third quarter. Boston Trust Walden Corp now owns 15,258 shares of the biopharmaceutical company’s stock worth $886,000 after acquiring an additional 771 shares during the last quarter. Strategic Blueprint LLC grew its position in shares of Bristol-Myers Squibb by 8.6% during the third quarter. Strategic Blueprint LLC now owns 5,440 shares of the biopharmaceutical company’s stock worth $316,000 after acquiring an additional 431 shares during the last quarter. Connecticut Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter worth approximately $240,000. Grimes & Company Inc. grew its position in shares of Bristol-Myers Squibb by 4.4% during the third quarter. Grimes & Company Inc. now owns 331,440 shares of the biopharmaceutical company’s stock worth $19,237,000 after acquiring an additional 14,084 shares during the last quarter. Finally, Zullo Investment Group Inc. grew its position in shares of Bristol-Myers Squibb by 8.1% during the third quarter. Zullo Investment Group Inc. now owns 3,506 shares of the biopharmaceutical company’s stock worth $203,000 after acquiring an additional 262 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their price objective on shares of 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. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One research 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 has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded up $0.15 during midday trading on Friday, hitting $44.85. 21,281,927 shares of the stock were exchanged, compared to its average volume of 12,141,314. The stock has a market cap of $90.90 billion, a P/E ratio of -14.47, a PEG ratio of 16.25 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a twelve month low of $44.34 and a twelve month high of $69.10. The company has a 50 day moving average price of $51.03 and a 200-day moving average price of $51.18.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 EPS. On average, research analysts forecast that Bristol-Myers Squibb will post 0.55 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

About Bristol-Myers Squibb

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.