Bristol-Myers Squibb (NYSE:BMY) Stake Lowered by Montecito Bank & Trust

Montecito Bank & Trust reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.5% during the 1st quarter, HoldingsChannel reports. The fund owned 12,601 shares of the biopharmaceutical company’s stock after selling 323 shares during the period. Montecito Bank & Trust’s holdings in Bristol-Myers Squibb were worth $683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BMY. Northwest Financial Advisors purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $34,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $40,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $40,000. Finally, Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $42,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the subject of several analyst reports. Barclays reduced their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. BMO Capital Markets reduced their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

BMY opened at $41.05 on Friday. Bristol-Myers Squibb has a one year low of $39.63 and a one year high of $66.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The company’s 50 day simple moving average is $43.73 and its 200-day simple moving average is $48.50. The stock has a market capitalization of $83.20 billion, a P/E ratio of -13.24, a price-to-earnings-growth ratio of 13.82 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the firm earned $2.05 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 5.85%. Bristol-Myers Squibb’s payout ratio 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.