Demars Financial Group LLC Sells 62,519 Shares of Bristol-Myers Squibb (NYSE:BMY)

Demars Financial Group LLC trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 80.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,051 shares of the biopharmaceutical company’s stock after selling 62,519 shares during the period. Bristol-Myers Squibb accounts for about 0.4% of Demars Financial Group LLC’s investment portfolio, making the stock its 24th biggest holding. Demars Financial Group LLC’s holdings in Bristol-Myers Squibb were worth $772,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BMY. OFI Invest Asset Management bought a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Milestone Investment Advisors LLC bought a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $27,000. Blue Bell Private Wealth Management LLC increased its stake in Bristol-Myers Squibb by 61.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Legacy Financial Group LLC bought a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $39,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $40,000. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BMY has been the subject of several research reports. Wells Fargo & Company increased their price objective 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. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Trading Up 0.1 %

BMY opened at $49.03 on Wednesday. The company’s 50 day moving average is $51.22 and its 200-day moving average is $51.32. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The company has a market cap of $99.37 billion, a P/E ratio of 12.69, a PEG ratio of 1.48 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same period last year, the company earned $1.82 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Equities research analysts predict that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.89%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

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.