Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Citizens Business Bank

Citizens Business Bank lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 35.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,970 shares of the biopharmaceutical company’s stock after selling 3,209 shares during the quarter. Citizens Business Bank’s holdings in Bristol-Myers Squibb were worth $306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Van ECK Associates Corp grew its holdings in shares of Bristol-Myers Squibb by 792.6% during the fourth quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after buying an additional 3,579,324 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Bristol-Myers Squibb by 48.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $86,965,000. Mizuho Markets Americas LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth $82,405,000. Finally, Northern Trust Corp grew its holdings in shares of Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BMY shares. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. BMO Capital Markets lowered their price target 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. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Barclays lowered their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday. One 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. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Stock Down 1.5 %

Shares of BMY traded down $0.68 during mid-day trading on Tuesday, hitting $43.96. 17,712,926 shares of the company’s stock were exchanged, compared to its average volume of 15,994,846. The company has a market cap of $89.11 billion, a price-to-earnings ratio of -14.38, a P/E/G ratio of 15.47 and a beta of 0.39. Bristol-Myers Squibb has a fifty-two week low of $43.93 and a fifty-two week high of $69.10. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The stock’s 50-day moving average is $50.93 and its 200-day moving average is $51.02.

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, topping the consensus estimate 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 business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid 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 5.46%. Bristol-Myers Squibb’s payout ratio is -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.