Paragon Capital Management LLC Decreases Stake in Bristol-Myers Squibb (NYSE:BMY)

Paragon Capital Management LLC cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 4.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,241 shares of the biopharmaceutical company’s stock after selling 804 shares during the quarter. Bristol-Myers Squibb comprises 0.6% of Paragon Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Paragon Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the business. Swedbank AB raised its holdings in Bristol-Myers Squibb by 0.9% during the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after purchasing an additional 28,427 shares during the last quarter. United Bank raised its holdings in Bristol-Myers Squibb by 2.7% during the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after purchasing an additional 456 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Bristol-Myers Squibb by 4.9% during the third quarter. Thrivent Financial for Lutherans now owns 116,801 shares of the biopharmaceutical company’s stock worth $6,044,000 after purchasing an additional 5,407 shares during the last quarter. Pathstone Holdings LLC raised its holdings in Bristol-Myers Squibb by 2.2% during the third quarter. Pathstone Holdings LLC now owns 188,950 shares of the biopharmaceutical company’s stock worth $9,776,000 after purchasing an additional 4,062 shares during the last quarter. Finally, Prospera Financial Services Inc raised its holdings in Bristol-Myers Squibb by 40.0% during the third quarter. Prospera Financial Services Inc now owns 73,255 shares of the biopharmaceutical company’s stock worth $3,791,000 after purchasing an additional 20,916 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $60.39 on Friday. The stock’s 50 day moving average price is $58.07 and its 200 day moving average price is $55.82. The firm has a market capitalization of $122.56 billion, a PE ratio of -13.66, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 one year low of $39.35 and a one year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate 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, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.11%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BMY shares. Bank of America reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Truist Financial boosted their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Citigroup upped their target price 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. Finally, Cantor Fitzgerald raised their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $57.86.

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.