Birch Hill Investment Advisors LLC Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

Birch Hill Investment Advisors LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,980 shares of the biopharmaceutical company’s stock after selling 851 shares during the period. Birch Hill Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BMY. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $363,000. MONECO Advisors LLC boosted its stake in Bristol-Myers Squibb by 34.6% during the 4th quarter. MONECO Advisors LLC now owns 9,689 shares of the biopharmaceutical company’s stock valued at $497,000 after purchasing an additional 2,490 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Bristol-Myers Squibb by 29.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,680,067 shares of the biopharmaceutical company’s stock valued at $137,514,000 after purchasing an additional 604,991 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Bristol-Myers Squibb by 197.3% in the 4th quarter. Great Valley Advisor Group Inc. now owns 46,311 shares of the biopharmaceutical company’s stock worth $2,376,000 after purchasing an additional 30,734 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 130.7% during the fourth quarter. Fisher Asset Management LLC now owns 224,537 shares of the biopharmaceutical company’s stock valued at $11,521,000 after purchasing an additional 127,228 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BMY shares. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Barclays increased their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.67.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $49.95 on Friday. The business’s fifty day moving average is $45.17 and its 200 day moving average is $46.59. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.03. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.99 and a current ratio of 1.16. The company has a market capitalization of $101.25 billion, a PE ratio of -16.11, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 EPS. Sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 4.80%. Bristol-Myers Squibb’s payout ratio 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.