Amalgamated Bank Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Amalgamated Bank trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,901 shares of the biopharmaceutical company’s stock after selling 12,282 shares during the quarter. Amalgamated Bank’s holdings in Bristol-Myers Squibb were worth $17,023,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $27,000. LGT Financial Advisors LLC grew its stake in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb during the 2nd quarter worth $39,000. Fairman Group LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in Bristol-Myers Squibb during the 2nd quarter worth $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMY. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. TD Cowen upped their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Jefferies Financial Group upped 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, Barclays upped their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Stock Down 1.0 %

BMY opened at $49.49 on Wednesday. The business has a 50 day moving average price of $47.16 and a two-hundred day moving average price of $46.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a market cap of $100.32 billion, a PE ratio of -15.96, a P/E/G ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $59.46.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 4.85%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Bristol-Myers Squibb 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.