LSV Asset Management Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

LSV Asset Management lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,735,463 shares of the biopharmaceutical company’s stock after selling 261,300 shares during the quarter. Bristol-Myers Squibb makes up 1.0% of LSV Asset Management’s portfolio, making the stock its 11th largest holding. LSV Asset Management owned 0.43% of Bristol-Myers Squibb worth $448,217,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp raised its position in shares of Bristol-Myers Squibb by 792.6% during the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock valued at $206,828,000 after purchasing an additional 3,579,324 shares during the period. Pacer Advisors Inc. raised its holdings in Bristol-Myers Squibb by 48.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after acquiring an additional 2,540,360 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $86,965,000. Mizuho Markets Americas LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter worth about $82,405,000. Finally, Northern Trust Corp grew its position in shares of Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after purchasing an additional 1,394,158 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays lowered their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. One equities research 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. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Trading Up 0.7 %

NYSE:BMY traded up $0.29 during mid-day trading on Friday, hitting $43.99. 12,104,489 shares of the stock traded hands, compared to its average volume of 14,314,010. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. Bristol-Myers Squibb has a 52 week low of $43.33 and a 52 week high of $69.10. The stock has a market capitalization of $89.17 billion, a price-to-earnings ratio of -14.19, a PEG ratio of 14.82 and a beta of 0.45. The firm’s 50 day moving average is $50.37 and its two-hundred day moving average is $50.74.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -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.