Commerce Bank Sells 18,863 Shares of Bristol-Myers Squibb (NYSE:BMY)

Commerce Bank lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 299,649 shares of the biopharmaceutical company’s stock after selling 18,863 shares during the period. Commerce Bank’s holdings in Bristol-Myers Squibb were worth $16,948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth $34,000. Westend Capital Management LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $38,000. Tacita Capital Inc bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $39,000. Finally, M Holdings Securities Inc. purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BMY has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Cantor Fitzgerald raised their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. UBS Group decreased their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Finally, Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $57.67.

Bristol-Myers Squibb Price Performance

BMY opened at $49.24 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The business has a fifty day moving average of $56.98 and a 200 day moving average of $56.64. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The stock has a market cap of $100.18 billion, a P/E ratio of -11.14, a PEG ratio of 2.07 and a beta of 0.41.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.04%. Bristol-Myers Squibb’s payout ratio is -56.11%.

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.