Federated Hermes Inc. Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Federated Hermes Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 75.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 256,375 shares of the biopharmaceutical company’s stock after selling 778,548 shares during the period. Federated Hermes Inc.’s holdings in Bristol-Myers Squibb were worth $13,155,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after purchasing an additional 2,540,360 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $86,965,000. Mizuho Markets Americas LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $82,405,000. Northern Trust Corp boosted its holdings in shares of Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after purchasing an additional 1,394,158 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Bristol-Myers Squibb by 8.6% during the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock valued at $905,806,000 after purchasing an additional 1,240,902 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMY. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company increased their price target on shares of 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 downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $49.14 on Tuesday. The firm has a market cap of $99.59 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. The firm’s 50 day simple moving average is $51.22 and its 200-day simple moving average is $51.38. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $1.82 earnings per share. As a group, equities analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.88%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.