Logan Capital Management Inc. Has $2.03 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Logan Capital Management Inc. cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,848 shares of the biopharmaceutical company’s stock after selling 3,987 shares during the period. Logan Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,028,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Czech National Bank boosted its stake in shares of Bristol-Myers Squibb by 6.5% during the 4th quarter. Czech National Bank now owns 439,749 shares of the biopharmaceutical company’s stock worth $24,872,000 after acquiring an additional 26,747 shares during the period. Aprio Wealth Management LLC boosted its position in Bristol-Myers Squibb by 72.9% during the fourth quarter. Aprio Wealth Management LLC now owns 8,282 shares of the biopharmaceutical company’s stock worth $468,000 after purchasing an additional 3,493 shares during the period. Fiduciary Alliance LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $253,000. Trust Co. of Toledo NA OH lifted its stake in shares of Bristol-Myers Squibb by 21.8% during the 4th quarter. Trust Co. of Toledo NA OH now owns 46,679 shares of the biopharmaceutical company’s stock worth $2,640,000 after buying an additional 8,341 shares during the last quarter. Finally, Brookstone Capital Management lifted its holdings in Bristol-Myers Squibb by 11.0% during the 4th quarter. Brookstone Capital Management now owns 186,155 shares of the biopharmaceutical company’s stock worth $10,529,000 after purchasing an additional 18,516 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $48.12 on Tuesday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The firm has a market cap of $97.92 billion, a PE ratio of -10.89, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The firm’s fifty day moving average is $54.31 and its 200-day moving average is $56.21.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($4.40) EPS. Sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.15%. Bristol-Myers Squibb’s payout ratio is 92.88%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BMY shares. UBS Group lowered 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 report on Friday, April 11th. Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. 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 note on Tuesday, April 8th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Finally, Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.00.

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.