IFM Investors Pty Ltd Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

IFM Investors Pty Ltd trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 435,849 shares of the biopharmaceutical company’s stock after selling 5,728 shares during the period. IFM Investors Pty Ltd’s holdings in Bristol-Myers Squibb were worth $22,551,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $34,000. LGT Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the period. Redmont Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $47,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb during the 2nd quarter valued at about $39,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. UBS Group raised their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $53.20.

Bristol-Myers Squibb Stock Down 0.5 %

Shares of BMY stock traded down $0.27 during trading hours on Thursday, hitting $52.79. 1,648,041 shares of the company’s stock traded hands, compared to its average volume of 14,562,734. 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 stock has a market cap of $107.01 billion, a price-to-earnings ratio of -17.08, a PEG ratio of 13.75 and a beta of 0.46. The stock’s fifty day simple moving average is $50.63 and its two-hundred day simple moving average is $46.39. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.77.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.55%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.