Navellier & Associates Inc. Reduces Position in Bristol Myers Squibb Company (NYSE:BMY)

Navellier & Associates Inc. trimmed its stake in Bristol Myers Squibb Company (NYSE:BMY) by 35.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,100 shares of the biopharmaceutical company’s stock after selling 5,056 shares during the period. Navellier & Associates Inc.’s holdings in Bristol Myers Squibb were worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at about $26,000. Transce3nd LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at about $28,000. Global Wealth Strategies & Associates boosted its position in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 275 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol Myers Squibb in the 1st quarter valued at about $31,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BMY shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Wall Street Zen lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Finally, Morgan Stanley reduced their price target on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating for the company in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol Myers Squibb currently has an average rating of “Hold” and a consensus target price of $58.53.

Bristol Myers Squibb Trading Down 1.0%

NYSE BMY opened at $48.44 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. The firm has a market cap of $98.57 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 2.56 and a beta of 0.36. The company has a 50 day moving average price of $47.67 and a 200 day moving average price of $52.64. Bristol Myers Squibb Company has a 52 week low of $44.00 and a 52 week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. Bristol Myers Squibb’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($4.40) EPS. As a group, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is presently 92.88%.

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.