Viewpoint Capital Management LLC Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

Viewpoint Capital Management LLC decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,346 shares of the biopharmaceutical company’s stock after selling 2,400 shares during the quarter. Bristol-Myers Squibb accounts for about 1.0% of Viewpoint Capital Management LLC’s holdings, making the stock its 29th largest holding. Viewpoint Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $1,537,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $1,560,524,000. Van ECK Associates Corp raised its position in shares of Bristol-Myers Squibb by 792.6% in the fourth quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock valued at $206,828,000 after buying an additional 3,579,324 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying an additional 2,998,228 shares in the last quarter. Pacer Advisors Inc. boosted its position 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 worth $401,806,000 after acquiring an additional 2,540,360 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Bristol-Myers Squibb by 36.7% during the 4th quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock valued at $480,118,000 after acquiring an additional 2,510,134 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on BMY. Wells Fargo & Company boosted 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 dropped 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. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Societe Generale lowered shares of 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Up 0.0 %

BMY traded up $0.02 on Friday, hitting $41.53. 20,542,742 shares of the company were exchanged, compared to its average volume of 15,934,426. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The company has a market cap of $84.19 billion, a price-to-earnings ratio of -13.40, a price-to-earnings-growth ratio of 14.20 and a beta of 0.43. The firm has a 50-day moving average price of $42.97 and a two-hundred day moving average price of $48.16. Bristol-Myers Squibb has a twelve month low of $39.63 and a twelve month high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.78%. Bristol-Myers Squibb’s 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.