Maryland State Retirement & Pension System Sells 3,406 Shares of Bristol-Myers Squibb (NYSE:BMY)

Maryland State Retirement & Pension System lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,516 shares of the biopharmaceutical company’s stock after selling 3,406 shares during the period. Maryland State Retirement & Pension System’s holdings in Bristol-Myers Squibb were worth $8,133,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Northern Trust Corp increased its position in shares of Bristol-Myers Squibb by 5.8% in the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after buying an additional 1,394,158 shares in the last quarter. Invesco Ltd. increased its position in shares of Bristol-Myers Squibb by 8.6% in the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock valued at $905,806,000 after buying an additional 1,240,902 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after purchasing an additional 2,540,360 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Bristol-Myers Squibb by 3.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,594,092 shares of the biopharmaceutical company’s stock worth $287,033,000 after purchasing an additional 172,769 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in Bristol-Myers Squibb by 13.8% during the 3rd quarter. Pzena Investment Management LLC now owns 4,924,194 shares of the biopharmaceutical company’s stock worth $285,800,000 after purchasing an additional 596,625 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded down $0.09 during mid-day trading on Monday, hitting $43.90. The stock had a trading volume of 9,110,922 shares, compared to its average volume of 15,839,226. Bristol-Myers Squibb has a twelve month low of $43.33 and a twelve month high of $69.10. The stock has a market cap of $88.99 billion, a price-to-earnings ratio of -14.16, a PEG ratio of 14.82 and a beta of 0.45. The company’s 50 day simple moving average is $50.24 and its 200 day simple moving average is $50.57. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

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

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.47%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analyst Ratings Changes

BMY has been the subject of a number of research reports. Barclays lowered their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. BMO Capital Markets lowered their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.00.

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.