Sequoia Financial Advisors LLC Raises Position in Bristol-Myers Squibb (NYSE:BMY)

Sequoia Financial Advisors LLC grew its position in Bristol-Myers Squibb (NYSE:BMY) by 54.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 119,293 shares of the biopharmaceutical company’s stock after buying an additional 42,244 shares during the period. Sequoia Financial Advisors LLC’s holdings in Bristol-Myers Squibb were worth $6,469,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $1,560,524,000. Van ECK Associates Corp grew its stake in shares of Bristol-Myers Squibb by 97.2% in the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after acquiring an additional 3,918,234 shares during the period. Primecap Management Co. CA grew its stake in shares of Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after acquiring an additional 2,998,228 shares during the period. Pacer Advisors Inc. grew its stake in shares of Bristol-Myers Squibb by 48.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after acquiring an additional 2,540,360 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Bristol-Myers Squibb by 36.7% in the fourth quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after acquiring an additional 2,510,134 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Up 0.5 %

BMY stock traded up $0.20 during mid-day trading on Friday, reaching $39.66. 12,824,373 shares of the stock traded hands, compared to its average volume of 15,346,125. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $65.38. The stock has a market capitalization of $80.39 billion, a PE ratio of -12.79, a PEG ratio of 13.71 and a beta of 0.44. The business has a 50-day moving average price of $42.27 and a two-hundred day moving average price of $47.78.

Bristol-Myers Squibb (NYSE:BMY) last posted 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 firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. Equities research analysts expect 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 Thursday, August 1st. Investors of record on Friday, July 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 6.05%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BMY shares. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. 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 on the stock in a report on Friday, April 26th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays lowered 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 report on Friday, April 26th. Finally, Wells Fargo & Company lifted their price target 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. 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’s stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price 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.