Bradley Foster & Sargent Inc. CT Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Bradley Foster & Sargent Inc. CT reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 37.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,356 shares of the biopharmaceutical company’s stock after selling 23,212 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Bristol-Myers Squibb were worth $1,593,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Assets Advisory LLC purchased a new stake in Bristol-Myers Squibb during the first quarter worth $5,161,000. Lincoln National Corp boosted its holdings in Bristol-Myers Squibb by 7.7% during the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,052 shares in the last quarter. Chapin Davis Inc. boosted its holdings in Bristol-Myers Squibb by 22.6% during the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 4,159 shares in the last quarter. Sierra Summit Advisors LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth $755,000. Finally, Scotia Capital Inc. boosted its holdings in Bristol-Myers Squibb by 48.6% during the fourth quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock worth $12,146,000 after buying an additional 77,471 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BMY. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. 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 increased 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. 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 company. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $49.74 on Thursday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $59.46. The stock has a market cap of $100.83 billion, a P/E ratio of -16.05, a PEG ratio of 12.59 and a beta of 0.46. The company has a 50-day moving average price of $47.34 and a 200 day moving average price of $46.48. 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 released 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 firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the business earned $1.75 earnings per share. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -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.