Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,322,532 shares of the biopharmaceutical company’s stock after selling 235,872 shares during the quarter. Wellington Management Group LLP owned 0.21% of Bristol-Myers Squibb worth $221,789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $1,560,524,000. Van ECK Associates Corp lifted its holdings in 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 acquiring an additional 3,579,324 shares during the period. Primecap Management Co. CA lifted its holdings in 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 valued at $1,207,549,000 after acquiring an additional 2,998,228 shares during the period. Pacer Advisors Inc. lifted its holdings in Bristol-Myers Squibb by 48.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after acquiring an additional 2,540,360 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Bristol-Myers Squibb by 36.7% in the fourth 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 during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BMY. BMO Capital Markets decreased their price target 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. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Barclays reduced their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Stock Down 0.4 %

Shares of NYSE:BMY opened at $40.82 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The business has a fifty day moving average of $44.08 and a two-hundred day moving average of $48.61. The stock has a market cap of $82.75 billion, a P/E ratio of -13.17, a PEG ratio of 13.95 and a beta of 0.43. Bristol-Myers Squibb has a 52-week low of $39.91 and a 52-week high of $66.38.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.88%. Bristol-Myers Squibb’s dividend payout ratio is presently -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.