Summit Trail Advisors LLC Sells 1,765 Shares of Bristol-Myers Squibb (NYSE:BMY)

Summit Trail Advisors LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 13.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,626 shares of the biopharmaceutical company’s stock after selling 1,765 shares during the quarter. Summit Trail Advisors LLC’s holdings in Bristol-Myers Squibb were worth $597,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BMY. McClarren Financial Advisors Inc. lifted its holdings in Bristol-Myers Squibb by 532.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 1,582 shares during the period. Institute for Wealth Management LLC. raised its holdings in Bristol-Myers Squibb by 1.0% during the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after buying an additional 296 shares during the period. Herold Advisors Inc. lifted its position in Bristol-Myers Squibb by 3.2% in the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after acquiring an additional 1,051 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Bristol-Myers Squibb by 9.5% during the third quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after buying an additional 12,121 shares during the period. Finally, Metis Global Partners LLC raised its holdings in shares of Bristol-Myers Squibb by 14.8% in the third quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock valued at $5,907,000 after purchasing an additional 13,122 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded up $0.07 during trading on Tuesday, reaching $43.97. The company’s stock had a trading volume of 3,007,062 shares, compared to its average volume of 15,689,702. The firm has a market cap of $89.13 billion, a price-to-earnings ratio of -14.20, a price-to-earnings-growth ratio of 14.82 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $43.33 and a 12 month high of $69.10. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The firm has a 50 day moving average of $50.24 and a 200-day moving average of $50.57.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent analyst reports. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.00.

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.