Raymond James Financial Services Advisors Inc. Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Raymond James Financial Services Advisors Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 546,248 shares of the biopharmaceutical company's stock after selling 51,369 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Bristol-Myers Squibb were worth $29,623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BMY. Compagnie Lombard Odier SCmA increased its position in Bristol-Myers Squibb by 459.8% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,435 shares of the biopharmaceutical company's stock valued at $141,000 after purchasing an additional 2,000 shares during the period. Vicus Capital increased its position in Bristol-Myers Squibb by 3.9% during the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company's stock valued at $280,000 after purchasing an additional 179 shares during the period. Gould Asset Management LLC CA increased its position in Bristol-Myers Squibb by 11.7% during the 3rd quarter. Gould Asset Management LLC CA now owns 9,520 shares of the biopharmaceutical company's stock valued at $553,000 after purchasing an additional 1,000 shares during the period. FinTrust Capital Advisors LLC increased its position in Bristol-Myers Squibb by 5.2% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 55,116 shares of the biopharmaceutical company's stock valued at $3,199,000 after purchasing an additional 2,714 shares during the period. Finally, Mount Vernon Associates Inc. MD grew its position in shares of Bristol-Myers Squibb by 1.5% in the 3rd quarter. Mount Vernon Associates Inc. MD now owns 27,480 shares of the biopharmaceutical company's stock worth $1,595,000 after buying an additional 411 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BMY. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Societe Generale downgraded shares of Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a research report on Monday, March 11th. Bank of America downgraded shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. BMO Capital Markets reduced their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a "market perform" rating on the stock in a research report on Friday, April 26th. Finally, Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $60.00.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.26 during midday trading on Wednesday, hitting $44.20. 13,246,102 shares of the company traded hands, compared to its average volume of 15,962,178. 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 firm has a market capitalization of $89.60 billion, a PE ratio of -14.26, a price-to-earnings-growth ratio of 15.39 and a beta of 0.39. The company's 50-day moving average is $50.67 and its 200 day moving average is $50.89. Bristol-Myers Squibb has a 52 week low of $43.73 and a 52 week high of $69.10.

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

Bristol-Myers Squibb Dividend Announcement

The firm 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 5.43%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -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.

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