Altrius Capital Management Inc Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Altrius Capital Management Inc raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 27.1% during the fourth quarter, Holdings Channel reports. The firm owned 68,832 shares of the biopharmaceutical company’s stock after buying an additional 14,690 shares during the quarter. Altrius Capital Management Inc’s holdings in Bristol-Myers Squibb were worth $3,532,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BMY. OFI Invest Asset Management purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at $25,000. Milestone Investment Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $27,000. Blue Bell Private Wealth Management LLC grew its position in shares of Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 200 shares during the period. Legacy Financial Group LLC purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $39,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $40,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 0.5 %

Shares of Bristol-Myers Squibb stock traded down $0.21 during trading on Monday, hitting $44.64. 16,416,463 shares of the stock traded hands, compared to its average volume of 15,973,770. The stock’s fifty day simple moving average is $51.03 and its 200 day simple moving average is $51.10. Bristol-Myers Squibb has a 52-week low of $44.34 and a 52-week high of $69.10. 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 firm has a market cap of $90.49 billion, a P/E ratio of -14.41, a price-to-earnings-growth ratio of 15.47 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.38%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BMY. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. 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 note on Friday. Finally, Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.00.

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.