Choreo LLC Trims Holdings in Bristol-Myers Squibb (NYSE:BMY)

Choreo LLC trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 42.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,218 shares of the biopharmaceutical company’s stock after selling 96,595 shares during the quarter. Choreo LLC’s holdings in Bristol-Myers Squibb were worth $7,515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Algert Global LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter worth approximately $328,000. AMF Tjanstepension AB boosted its stake in Bristol-Myers Squibb by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after purchasing an additional 39,419 shares during the period. Czech National Bank boosted its stake in Bristol-Myers Squibb by 6.9% in the 3rd quarter. Czech National Bank now owns 413,002 shares of the biopharmaceutical company’s stock worth $21,369,000 after purchasing an additional 26,718 shares during the period. GAMMA Investing LLC boosted its stake in Bristol-Myers Squibb by 61.3% in the 3rd quarter. GAMMA Investing LLC now owns 27,386 shares of the biopharmaceutical company’s stock worth $1,417,000 after purchasing an additional 10,410 shares during the period. Finally, SignalPoint Asset Management LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter worth approximately $201,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $59.15 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The business’s fifty day simple moving average is $57.64 and its two-hundred day simple moving average is $53.59. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The firm has a market cap of $119.97 billion, a price-to-earnings ratio of -16.48, a PEG ratio of 2.10 and a beta of 0.45.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a $0.62 dividend. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BMO Capital Markets upped their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Morgan Stanley increased their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Bank of America reiterated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $56.93.

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.