Gladstone Institutional Advisory LLC Sells 36,225 Shares of Bristol-Myers Squibb (NYSE:BMY)

Gladstone Institutional Advisory LLC lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 33.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,006 shares of the biopharmaceutical company’s stock after selling 36,225 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Bristol-Myers Squibb were worth $3,674,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC lifted its position in Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 206 shares during the period. Legacy Wealth Asset Management LLC lifted its position in Bristol-Myers Squibb by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock worth $532,000 after acquiring an additional 215 shares during the period. Paragon Capital Management LLC lifted its position in Bristol-Myers Squibb by 1.1% during the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after acquiring an additional 222 shares during the period. OmniStar Financial Group Inc. lifted its position in Bristol-Myers Squibb by 1.7% during the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after acquiring an additional 224 shares during the period. Finally, LGT Financial Advisors LLC lifted its position 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 acquiring an additional 227 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen boosted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Jefferies Financial Group boosted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Barclays boosted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $53.08.

Bristol-Myers Squibb Stock Down 2.6 %

Bristol-Myers Squibb stock opened at $54.34 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.20. The stock’s fifty day simple moving average is $51.26 and its 200-day simple moving average is $46.58. 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 firm has a market capitalization of $110.17 billion, a P/E ratio of -16.67, a P/E/G ratio of 14.62 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. 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 $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the company earned $2.00 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.72 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.42%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -73.62%.

About Bristol-Myers Squibb

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.