NorthCrest Asset Manangement LLC Sells 3,291 Shares of Bristol-Myers Squibb (NYSE:BMY)

NorthCrest Asset Manangement LLC reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 157,422 shares of the biopharmaceutical company’s stock after selling 3,291 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Bristol-Myers Squibb were worth $6,538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at approximately $27,000. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb in the fourth quarter valued at about $27,000. Accordant Advisory Group Inc bought a new position in Bristol-Myers Squibb in the first quarter valued at about $31,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Bristol-Myers Squibb during the 4th quarter worth about $34,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at about $40,000. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on BMY shares. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. TD Cowen raised their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $54.86.

Bristol-Myers Squibb Stock Down 1.6 %

Shares of Bristol-Myers Squibb stock traded down $0.78 on Wednesday, reaching $48.28. 2,234,511 shares of the company were exchanged, compared to its average volume of 15,878,908. The company has a market capitalization of $97.87 billion, a price-to-earnings ratio of -15.65, a PEG ratio of 12.51 and a beta of 0.44. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The company has a 50-day moving average of $43.28 and a 200 day moving average of $46.58.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the firm posted $1.75 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is presently -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.