Connor Clark & Lunn Investment Management Ltd. Sells 169,116 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly reduced its holdings in Bristol Myers Squibb by 90.7%, selling 169,116 shares and holding only 17,279 shares worth $1,054,000 by the end of the quarter.
• Bristol Myers Squibb reported $1.46 EPS for the latest quarter, exceeding analyst expectations and achieving a revenue of $12.27 billion, slightly up from the previous year.
• The company declared a dividend of $0.62 per share, representing a 5.1% yield, with a total annualized dividend payout amounting to $2.48.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 90.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,279 shares of the biopharmaceutical company's stock after selling 169,116 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Bristol Myers Squibb were worth $1,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $26,000. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $28,000. Global Wealth Strategies & Associates lifted its holdings in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb during the first quarter valued at $31,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BMY. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Jefferies Financial Group lowered their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.25 during trading on Monday, hitting $48.19. 7,865,214 shares of the company's stock were exchanged, compared to its average volume of 12,742,200. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The business's 50-day simple moving average is $47.21 and its 200 day simple moving average is $51.32. The company has a market cap of $98.09 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.48 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The firm had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter last year, the business posted $2.07 earnings per share. The firm's revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.1%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

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.