First National Bank Sioux Falls Trims Holdings in Bristol-Myers Squibb (NYSE:BMY)

First National Bank Sioux Falls cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 17.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,195 shares of the biopharmaceutical company’s stock after selling 2,000 shares during the quarter. First National Bank Sioux Falls’ holdings in Bristol-Myers Squibb were worth $476,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Norden Group LLC grew its position in Bristol-Myers Squibb by 30.2% during the first quarter. Norden Group LLC now owns 13,846 shares of the biopharmaceutical company’s stock worth $751,000 after buying an additional 3,213 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Bristol-Myers Squibb by 5.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 47,197 shares of the biopharmaceutical company’s stock worth $2,559,000 after buying an additional 2,232 shares in the last quarter. BNP Paribas purchased a new position in Bristol-Myers Squibb during the first quarter worth about $1,481,000. Fidelis Capital Partners LLC grew its position in Bristol-Myers Squibb by 18.8% during the first quarter. Fidelis Capital Partners LLC now owns 8,102 shares of the biopharmaceutical company’s stock worth $483,000 after buying an additional 1,280 shares in the last quarter. Finally, Lincoln National Corp grew its position in Bristol-Myers Squibb by 7.7% during the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,052 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Down 2.6 %

Shares of NYSE BMY traded down $1.45 during midday trading on Friday, reaching $54.32. The company had a trading volume of 12,894,832 shares, compared to its average volume of 14,484,395. The firm’s fifty day moving average price is $51.26 and its 200-day moving average price is $46.57. The stock has a market cap of $110.13 billion, a PE ratio of -16.66, a price-to-earnings-growth ratio of 14.62 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 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 $56.20.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.72 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -73.62%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research analyst reports. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. TD Cowen lifted their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. UBS Group lifted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Citigroup lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $75.00 to $55.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.00.

About Bristol-Myers Squibb

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.