HighPoint Advisor Group LLC Cuts Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

HighPoint Advisor Group LLC decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.5% during the first quarter, Holdings Channel.com reports. The fund owned 58,166 shares of the biopharmaceutical company’s stock after selling 2,761 shares during the period. HighPoint Advisor Group LLC’s holdings in Bristol Myers Squibb were worth $3,548,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Pinney & Scofield Inc. acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth about $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth about $26,000. Global Wealth Strategies & Associates lifted its holdings in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 275 shares during the period. Transce3nd LLC acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth about $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bristol Myers Squibb during the first quarter worth about $31,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $46.82 on Monday. The stock has a market cap of $95.29 billion, a PE ratio of 17.48, a P/E/G ratio of 2.48 and a beta of 0.36. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a twelve month low of $41.90 and a twelve month high of $63.33. The stock has a fifty day simple moving average of $47.47 and a 200-day simple moving average of $52.89.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The business had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. During the same period in the prior year, the business posted ($4.40) EPS. The company’s revenue was down 5.6% compared to the same quarter last year. Equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 92.88%.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. Argus raised Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. William Blair reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. UBS Group reduced their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Jefferies Financial Group reduced their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $57.69.

Insider Transactions at Bristol Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of Bristol Myers Squibb stock in a transaction on Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president directly owned 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

Bristol Myers Squibb 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.