Summit Global Investments Has $1.95 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Summit Global Investments trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 77.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 38,040 shares of the biopharmaceutical company's stock after selling 133,210 shares during the quarter. Summit Global Investments' holdings in Bristol-Myers Squibb were worth $1,952,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BMY. J.W. Cole Advisors Inc. lifted its holdings in shares of Bristol-Myers Squibb by 9.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 29,058 shares of the biopharmaceutical company's stock worth $1,687,000 after acquiring an additional 2,468 shares during the period. Legacy Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at $39,000. NorthRock Partners LLC increased its stake in shares of Bristol-Myers Squibb by 6.3% in the 3rd quarter. NorthRock Partners LLC now owns 10,506 shares of the biopharmaceutical company's stock valued at $610,000 after purchasing an additional 624 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Bristol-Myers Squibb by 1.6% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 1,024,654 shares of the biopharmaceutical company's stock worth $59,471,000 after buying an additional 16,400 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Bristol-Myers Squibb by 143.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,308 shares of the biopharmaceutical company's stock worth $192,000 after buying an additional 1,948 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Up 0.7 %

Shares of BMY traded up $0.29 during trading hours on Friday, hitting $43.99. 11,979,505 shares of the stock were exchanged, compared to its average volume of 15,917,313. Bristol-Myers Squibb has a fifty-two week low of $43.33 and a fifty-two week high of $69.10. The business has a 50-day moving average of $50.52 and a 200-day moving average of $50.84. The firm has a market capitalization of $89.17 billion, a P/E ratio of -14.19, a price-to-earnings-growth ratio of 14.90 and a beta of 0.45. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts' consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate 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 business's revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS. On average, research analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were given 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 was Thursday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is -77.42%.

Analyst Upgrades and Downgrades

BMY has been the subject of several research analyst reports. StockNews.com downgraded Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 15th. Societe Generale cut shares of Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a research report on Monday, March 11th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and cut their target price for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a "market perform" rating for the company in a report on Friday, April 26th. Finally, Barclays cut their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an "equal weight" rating on the stock in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $60.00.

Bristol-Myers Squibb Company 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.

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