Cutter & CO Brokerage Inc. Decreases Position in Bristol-Myers Squibb (NYSE:BMY)

Cutter & CO Brokerage Inc. cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 16.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,794 shares of the biopharmaceutical company’s stock after selling 3,114 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Bristol-Myers Squibb were worth $893,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management boosted its holdings in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BMY shares. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Morgan Stanley boosted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, Citigroup upped their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Stock Up 0.6 %

Bristol-Myers Squibb stock opened at $58.25 on Wednesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The stock’s fifty day simple moving average is $57.05 and its 200-day simple moving average is $54.56. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $118.21 billion, a P/E ratio of -13.18, a P/E/G ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, equities analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.26%. The ex-dividend date was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -56.11%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb 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.