SYSTM Wealth Solutions LLC Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

SYSTM Wealth Solutions LLC trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 92.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,756 shares of the biopharmaceutical company’s stock after selling 61,433 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Bristol-Myers Squibb were worth $198,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BMY. Capital International Investors lifted its holdings in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after acquiring an additional 8,675,322 shares during the period. M&G Plc acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at approximately $392,608,000. Pzena Investment Management LLC raised its holdings in Bristol-Myers Squibb by 119.8% during the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after purchasing an additional 5,461,767 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Bristol-Myers Squibb by 97.2% in the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after acquiring an additional 3,918,234 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $49.74 on Thursday. The business has a 50-day moving average of $47.34 and a two-hundred day moving average of $46.48. The firm has a market capitalization of $100.83 billion, a PE ratio of -16.05, a P/E/G ratio of 12.59 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $59.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the company earned $1.75 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday. Barclays lifted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group upped their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.00.

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.