White Pine Capital LLC Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

White Pine Capital LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 21.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,345 shares of the biopharmaceutical company’s stock after selling 6,322 shares during the quarter. White Pine Capital LLC’s holdings in Bristol-Myers Squibb were worth $1,198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vicus Capital raised its position in Bristol-Myers Squibb by 3.9% in the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 179 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Bristol-Myers Squibb by 2.3% during the 3rd quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 182 shares during the last quarter. Addison Advisors LLC increased its position in shares of Bristol-Myers Squibb by 6.6% during the 3rd quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 192 shares during the last quarter. Symphony Financial Ltd. Co. increased its position in shares of Bristol-Myers Squibb by 4.1% during the 3rd quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock valued at $288,000 after purchasing an additional 194 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Wells Fargo & Company increased their price target on 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. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Price Performance

Shares of BMY traded up $0.15 during trading hours on Friday, reaching $44.85. 21,281,927 shares of the company’s stock traded hands, compared to its average volume of 12,141,314. The stock has a market cap of $90.90 billion, a PE ratio of -14.47, a price-to-earnings-growth 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. The firm’s 50 day simple moving average is $51.03 and its 200-day simple moving average is $51.18. Bristol-Myers Squibb has a 12 month low of $44.34 and a 12 month high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm 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 company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $2.05 EPS. Equities analysts expect that Bristol-Myers Squibb will post 0.55 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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