Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Ridgecrest Wealth Partners LLC

Ridgecrest Wealth Partners LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,675 shares of the biopharmaceutical company’s stock after selling 400 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Bristol-Myers Squibb were worth $525,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BMY. Northwest Financial Advisors purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at approximately $27,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $34,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $40,000. Wetzel Investment Advisors Inc. purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth $40,000. Finally, Fairman Group LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of several analyst reports. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. BMO Capital Markets lowered 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 report on Friday, April 26th. Barclays reduced their target price 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, April 26th. Wells Fargo & Company raised 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 report on Thursday, April 18th. Finally, Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Up 0.0 %

BMY stock opened at $41.53 on Friday. The stock’s 50 day simple moving average is $42.97 and its 200 day simple moving average is $48.14. Bristol-Myers Squibb has a 12-month low of $39.63 and a 12-month high of $65.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping 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 analysts’ expectations of $11.45 billion. During the same period in the prior year, the company earned $2.05 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.78%. The ex-dividend date of this dividend is Friday, July 5th. 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.