KLCM Advisors Inc. Has $21.12 Million Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• KLCM Advisors Inc. reduced its stake in Bristol Myers Squibb by 35%, selling 186,252 shares, and now holds 346,287 shares valued at approximately $21.12 million.
• Several hedge funds adjusted their positions in Bristol Myers Squibb, with notable increases and new positions established in the fourth quarter.
• Analyst ratings for Bristol Myers Squibb have shifted, with Citigroup lowering its price target to $47.00 and various firms downgrading their assessments, reflecting a generally cautious stance among analysts.

KLCM Advisors Inc. reduced its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 346,287 shares of the biopharmaceutical company's stock after selling 186,252 shares during the period. Bristol Myers Squibb comprises about 2.5% of KLCM Advisors Inc.'s holdings, making the stock its 7th largest position. KLCM Advisors Inc.'s holdings in Bristol Myers Squibb were worth $21,120,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb in the 4th quarter worth about $25,000. Park Square Financial Group LLC acquired a new position in Bristol Myers Squibb in the 4th quarter worth about $26,000. Transce3nd LLC acquired a new position in Bristol Myers Squibb in the 4th quarter worth about $28,000. Global Wealth Strategies & Associates increased its position in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb in the 1st quarter worth about $31,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Performance

Shares of NYSE:BMY traded up $0.64 during trading on Friday, hitting $48.45. 11,206,898 shares of the stock were exchanged, compared to its average volume of 12,717,643. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company has a market capitalization of $98.62 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. The company's fifty day simple moving average is $47.23 and its 200-day simple moving average is $51.45. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share 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 company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the firm earned $2.07 EPS. Bristol Myers Squibb's revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup dropped their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. Finally, Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and a consensus target price of $56.38.

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.