Ardent Capital Management Inc. Has $1.33 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Ardent Capital Management Inc. trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,983 shares of the biopharmaceutical company’s stock after selling 2,000 shares during the quarter. Bristol-Myers Squibb makes up about 0.7% of Ardent Capital Management Inc.’s investment portfolio, making the stock its 16th largest holding. Ardent Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,333,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its stake in shares of Bristol-Myers Squibb by 532.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after purchasing an additional 1,582 shares during the period. Institute for Wealth Management LLC. boosted its position in shares of Bristol-Myers Squibb by 1.0% during the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after acquiring an additional 296 shares in the last quarter. Herold Advisors Inc. increased its stake in Bristol-Myers Squibb by 3.2% in the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after acquiring an additional 1,051 shares during the period. Great Diamond Partners LLC grew its position in Bristol-Myers Squibb by 9.2% in the fourth quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after acquiring an additional 367 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in Bristol-Myers Squibb by 9.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock valued at $8,115,000 after purchasing an additional 12,121 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on BMY shares. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.00.

Get Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Stock Performance

BMY stock traded down $0.08 during mid-day trading on Friday, hitting $44.03. 15,787,957 shares of the company were exchanged, compared to its average volume of 14,696,859. Bristol-Myers Squibb has a 1-year low of $43.33 and a 1-year high of $67.16. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The stock has a market capitalization of $89.25 billion, a PE ratio of -14.20, a price-to-earnings-growth ratio of 14.91 and a beta of 0.45. The business has a 50 day simple moving average of $48.91 and a 200-day simple moving average of $50.00.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share 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 the consensus estimate of $11.45 billion. During the same period last year, the company posted $2.05 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were paid a $0.60 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.45%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Bristol-Myers Squibb Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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