Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 27.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 175,231 shares of the biopharmaceutical company’s stock after selling 66,286 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Bristol Myers Squibb were worth $10,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb during the fourth quarter valued at $25,000. Park Square Financial Group LLC acquired a new position in Bristol Myers Squibb during the fourth quarter valued at $26,000. Fairway Wealth LLC acquired a new position in Bristol Myers Squibb during the fourth quarter valued at $28,000. Transce3nd LLC acquired a new position in Bristol Myers Squibb during the fourth quarter valued at $28,000. Finally, Global Wealth Strategies & Associates lifted its position in Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the purchase, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group decreased their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Argus upgraded shares of Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. William Blair reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Bristol Myers Squibb Stock Down 0.9%

BMY stock opened at $46.82 on Friday. The stock has a market capitalization of $95.29 billion, a P/E ratio of 17.54, a P/E/G ratio of 1.39 and a beta of 0.38. The firm has a 50-day simple moving average of $48.28 and a 200-day simple moving average of $54.43. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a 52 week low of $39.35 and a 52 week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($4.40) earnings per share. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.30%. Bristol Myers Squibb’s dividend payout ratio is presently 92.88%.

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.