Close Asset Management Ltd Has $7.87 Million Stake in Bristol Myers Squibb Company (NYSE:BMY)

Close Asset Management Ltd decreased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 22.4% during the first quarter, HoldingsChannel.com reports. The fund owned 128,956 shares of the biopharmaceutical company’s stock after selling 37,250 shares during the period. Close Asset Management Ltd’s holdings in Bristol Myers Squibb were worth $7,871,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pinney & Scofield Inc. acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth $25,000. Park Square Financial Group LLC bought a new stake in Bristol Myers Squibb during the fourth quarter worth about $26,000. Transce3nd LLC acquired a new position in Bristol Myers Squibb during the fourth quarter worth approximately $28,000. Global Wealth Strategies & Associates grew its position in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bristol Myers Squibb during the first quarter worth approximately $31,000. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Up 2.9%

Shares of BMY opened at $48.06 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $97.80 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.44 and a beta of 0.36. The firm has a 50-day moving average price of $47.47 and a 200 day moving average price of $52.89. Bristol Myers Squibb Company has a 12-month low of $41.90 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 quarter in the previous year, the business earned ($4.40) EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is 92.88%.

Analyst Ratings Changes

A number of brokerages have weighed in on BMY. Morgan Stanley decreased their price target on Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating for the company in a report on Thursday, July 10th. Jefferies Financial Group reduced their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Finally, Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.69.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president owned 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

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.