NorthCrest Asset Manangement LLC Sells 3,089 Shares of Bristol-Myers Squibb (NYSE:BMY)

NorthCrest Asset Manangement LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 2.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 154,333 shares of the biopharmaceutical company’s stock after selling 3,089 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Bristol-Myers Squibb were worth $7,985,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. ESL Trust Services LLC purchased a new stake in Bristol-Myers Squibb during the first quarter worth $27,000. LGT Financial Advisors LLC grew its position in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Bristol-Myers Squibb in the third quarter worth $34,000. MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at $39,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BMY. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Citigroup downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $75.00 to $55.00 in a research note on Friday. UBS Group boosted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $53.31.

Bristol-Myers Squibb Price Performance

BMY traded down $1.00 during trading on Friday, reaching $51.92. The company’s stock had a trading volume of 7,127,425 shares, compared to its average volume of 14,553,149. The firm has a fifty day simple moving average of $50.75 and a two-hundred day simple moving average of $46.44. The company has a market cap of $105.25 billion, a price-to-earnings ratio of -16.75, a PEG ratio of 13.75 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 1 year low of $39.35 and a 1 year high of $55.29.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating 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 analysts’ expectations of $11.54 billion. During the same quarter in the previous year, the company posted $1.75 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.62%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.