Summit Asset Management LLC Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Summit Asset Management LLC lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,498 shares of the biopharmaceutical company’s stock after purchasing an additional 600 shares during the quarter. Summit Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $436,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. West Family Investments Inc. raised its position in shares of Bristol-Myers Squibb by 64.1% during the 4th quarter. West Family Investments Inc. now owns 6,096 shares of the biopharmaceutical company’s stock valued at $313,000 after buying an additional 2,381 shares during the period. Fisher Asset Management LLC raised its position in Bristol-Myers Squibb by 130.7% in the fourth quarter. Fisher Asset Management LLC now owns 224,537 shares of the biopharmaceutical company’s stock valued at $11,521,000 after purchasing an additional 127,228 shares during the period. Great Valley Advisor Group Inc. lifted its stake in shares of Bristol-Myers Squibb by 197.3% in the 4th quarter. Great Valley Advisor Group Inc. now owns 46,311 shares of the biopharmaceutical company’s stock valued at $2,376,000 after purchasing an additional 30,734 shares during the last quarter. Searle & CO. grew its holdings in shares of Bristol-Myers Squibb by 11.9% during the 4th quarter. Searle & CO. now owns 104,081 shares of the biopharmaceutical company’s stock worth $5,340,000 after purchasing an additional 11,048 shares during the period. Finally, Concord Wealth Partners increased its position in shares of Bristol-Myers Squibb by 41.7% during the 4th quarter. Concord Wealth Partners now owns 30,639 shares of the biopharmaceutical company’s stock worth $1,572,000 after purchasing an additional 9,020 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.5 %

Shares of NYSE:BMY traded down $0.20 on Thursday, hitting $44.01. 7,662,422 shares of the company’s stock were exchanged, compared to its average volume of 15,862,834. 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 1-year low of $43.33 and a 1-year high of $69.10. The firm’s 50-day moving average is $50.67 and its 200 day moving average is $50.89. The company has a market capitalization of $89.21 billion, a PE ratio of -14.15, a P/E/G ratio of 14.70 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $2.05 earnings per share. Sell-side analysts predict that Bristol-Myers Squibb will post 0.6 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.45%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analyst Ratings Changes

Several research analysts have weighed in on BMY shares. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One research 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.com, the company currently has an average rating of “Hold” and a consensus price target 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.