Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 9.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,743 shares of the biopharmaceutical company’s stock after selling 1,150 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Bristol-Myers Squibb were worth $446,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Plato Investment Management Ltd lifted its position in shares of Bristol-Myers Squibb by 25.4% during the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after buying an additional 21,041 shares during the last quarter. Providence Wealth Advisors LLC boosted its stake in Bristol-Myers Squibb by 1.9% in the second quarter. Providence Wealth Advisors LLC now owns 30,054 shares of the biopharmaceutical company’s stock valued at $1,260,000 after acquiring an additional 552 shares in the last quarter. Retirement Planning Co of New England Inc. grew its holdings in shares of Bristol-Myers Squibb by 4.1% during the second quarter. Retirement Planning Co of New England Inc. now owns 10,634 shares of the biopharmaceutical company’s stock worth $442,000 after purchasing an additional 418 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Bristol-Myers Squibb by 1.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,268,887 shares of the biopharmaceutical company’s stock valued at $94,227,000 after purchasing an additional 34,643 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Bristol-Myers Squibb by 31.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 467,994 shares of the biopharmaceutical company’s stock worth $19,436,000 after buying an additional 111,303 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BMY shares. Barclays raised their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $49.13 on Monday. The business’s fifty day moving average price is $46.79 and its 200 day moving average price is $46.47. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $60.55. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $99.59 billion, a P/E ratio of -15.85, a PEG ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. During the same quarter in the previous year, the business earned $1.75 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.