Intech Investment Management LLC Sells 220,228 Shares of Bristol-Myers Squibb (NYSE:BMY)

Intech Investment Management LLC trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 31.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 484,379 shares of the biopharmaceutical company’s stock after selling 220,228 shares during the period. Intech Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $20,116,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC raised its holdings in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. Fairman Group LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $42,000. Redmont Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth approximately $47,000. Finally, Accent Capital Management LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $46,000. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Barclays boosted their price target 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 raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. TD Cowen upped their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Stock Down 1.5 %

NYSE BMY opened at $49.02 on Friday. The business has a fifty day moving average price of $47.50 and a two-hundred day moving average price of $46.50. 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 fifty-two week low of $39.35 and a fifty-two week high of $59.46. The stock has a market capitalization of $99.36 billion, a PE ratio of -15.81, a PEG ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released 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 analysts’ expectations of $11.54 billion. During the same period in the prior year, the company earned $1.75 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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