Arnhold LLC Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Arnhold LLC boosted its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 319,803 shares of the biopharmaceutical company's stock after acquiring an additional 64,533 shares during the quarter. Bristol-Myers Squibb comprises about 1.8% of Arnhold LLC's portfolio, making the stock its 18th largest position. Arnhold LLC's holdings in Bristol-Myers Squibb were worth $16,409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Van ECK Associates Corp lifted its position in Bristol-Myers Squibb by 792.6% during the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company's stock worth $206,828,000 after acquiring an additional 3,579,324 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company's stock valued at $401,806,000 after buying an additional 2,540,360 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $86,965,000. Mizuho Markets Americas LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $82,405,000. Finally, Northern Trust Corp lifted its holdings in shares of Bristol-Myers Squibb by 5.8% in the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company's stock valued at $1,467,989,000 after buying an additional 1,394,158 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Trading Down 1.5 %

NYSE:BMY traded down $0.68 during trading hours on Tuesday, reaching $43.96. 17,712,926 shares of the stock were exchanged, compared to its average volume of 15,994,846. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The business has a 50-day moving average of $50.81 and a two-hundred day moving average of $50.93. Bristol-Myers Squibb has a twelve month low of $43.93 and a twelve month high of $69.10. The company has a market capitalization of $89.11 billion, a price-to-earnings ratio of -14.18, a PEG ratio of 15.47 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts' consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analysts' expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb's payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BMY. Redburn Atlantic cut Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. BMO Capital Markets decreased their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a "market perform" rating for the company in a report on Friday. Barclays decreased their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an "equal weight" rating for the company in a report on Friday. Bank of America lowered Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and cut their price target for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an "equal weight" rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock 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.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb (NYSE:BMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.