Bristol-Myers Squibb (NYSE:BMY) Position Decreased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 37.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,148 shares of the biopharmaceutical company’s stock after selling 228,726 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Bristol-Myers Squibb were worth $15,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the first quarter worth approximately $27,000. LGT Financial Advisors LLC boosted its stake in Bristol-Myers Squibb by 42.7% in 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 during the period. Fairman Group LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $42,000. Redmont Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at $47,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $46,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $49.02 on Friday. The stock has a market capitalization of $99.36 billion, a P/E ratio of -15.81, a P/E/G ratio of 12.59 and a beta of 0.46. The business has a 50-day moving average of $47.50 and a two-hundred day moving average of $46.50. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $59.46. 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 (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period in the previous year, the company earned $1.75 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.90%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Analyst Ratings Changes

Several research firms recently weighed in on BMY. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday. TD Cowen increased their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Barclays raised their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target 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 equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.00.

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.