Janney Capital Management LLC Has $2.58 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Janney Capital Management LLC reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,573 shares of the biopharmaceutical company’s stock after selling 1,083 shares during the period. Janney Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $2,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Northwest Financial Advisors acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $27,000. Accordant Advisory Group Inc acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth about $31,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $34,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $40,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $40,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

BMY stock traded up $0.20 during trading on Friday, reaching $39.66. 12,824,373 shares of the company were exchanged, compared to its average volume of 15,346,125. The company has a 50-day moving average of $42.27 and a two-hundred day moving average of $47.78. The company has a market capitalization of $80.39 billion, a price-to-earnings ratio of -12.79, a P/E/G ratio of 13.71 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $65.38. 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) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 6.05%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analysts Set New Price Targets

A number of brokerages recently commented on BMY. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Barclays decreased their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.