Bristol-Myers Squibb (NYSE:BMY) Shares Sold by BBR Partners LLC

BBR Partners LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,089 shares of the biopharmaceutical company’s stock after selling 899 shares during the period. BBR Partners LLC’s holdings in Bristol-Myers Squibb were worth $461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS increased its position in shares of Bristol-Myers Squibb by 3.1% during the second quarter. Kornitzer Capital Management Inc. KS now owns 290,347 shares of the biopharmaceutical company’s stock worth $12,058,000 after acquiring an additional 8,768 shares during the period. National Bank of Canada FI increased its holdings in Bristol-Myers Squibb by 17.3% during the 2nd quarter. National Bank of Canada FI now owns 850,600 shares of the biopharmaceutical company’s stock worth $35,096,000 after purchasing an additional 125,438 shares during the period. Hohimer Wealth Management LLC raised its position in Bristol-Myers Squibb by 194.8% in the 2nd quarter. Hohimer Wealth Management LLC now owns 69,438 shares of the biopharmaceutical company’s stock valued at $2,884,000 after purchasing an additional 45,884 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of Bristol-Myers Squibb by 8.6% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 11,326 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 893 shares during the period. Finally, TD Asset Management Inc grew its position in shares of Bristol-Myers Squibb by 5.8% during the second quarter. TD Asset Management Inc now owns 1,744,501 shares of the biopharmaceutical company’s stock worth $72,449,000 after buying an additional 96,256 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BMY has been the topic of several analyst reports. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group raised their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Barclays boosted 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 note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, TD Cowen lifted their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Price Performance

BMY stock opened at $49.79 on Friday. The business has a 50 day simple moving average of $45.80 and a 200-day simple moving average of $46.61. The company has a market capitalization of $100.93 billion, a P/E ratio of -16.06, a PEG ratio of 12.92 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.42. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.82%. The ex-dividend date was Friday, July 5th. 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.