IMS Capital Management Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

IMS Capital Management decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 44.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,001 shares of the biopharmaceutical company’s stock after selling 4,777 shares during the period. IMS Capital Management’s holdings in Bristol-Myers Squibb were worth $325,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Bristol-Myers Squibb by 94.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,992 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 2,431 shares during the period. Hamilton Wealth LLC increased its stake in Bristol-Myers Squibb by 106.3% during the 1st quarter. Hamilton Wealth LLC now owns 66,548 shares of the biopharmaceutical company’s stock worth $3,609,000 after buying an additional 34,284 shares during the period. Pathway Financial Advisers LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $60,000. Verity Asset Management Inc. grew its holdings in Bristol-Myers Squibb by 5.3% during the 1st quarter. Verity Asset Management Inc. now owns 6,212 shares of the biopharmaceutical company’s stock worth $337,000 after acquiring an additional 315 shares in the last quarter. Finally, Cetera Advisors LLC grew its holdings in Bristol-Myers Squibb by 122.3% during the 1st quarter. Cetera Advisors LLC now owns 270,340 shares of the biopharmaceutical company’s stock worth $14,661,000 after acquiring an additional 148,729 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BMY shares. BMO Capital Markets decreased their price objective on shares of 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 raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.79.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded up $0.60 during midday trading on Friday, reaching $48.77. The company’s stock had a trading volume of 15,601,503 shares, compared to its average volume of 17,378,216. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. The company has a 50 day moving average price of $42.39 and a 200 day moving average price of $46.73. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The company has a market cap of $98.88 billion, a price-to-earnings ratio of -15.73, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Bristol-Myers Squibb 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.