Auxier Asset Management Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Auxier Asset Management lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,546 shares of the biopharmaceutical company’s stock after selling 624 shares during the quarter. Auxier Asset Management’s holdings in Bristol-Myers Squibb were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC increased its holdings 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 valued at $32,000 after purchasing an additional 227 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth about $39,000. Fairman Group LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays upped their price target on 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 raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped 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 research note on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Finally, Jefferies Financial Group lifted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Stock Up 0.7 %

BMY stock opened at $49.38 on Friday. The firm has a market cap of $100.10 billion, a price-to-earnings ratio of -15.93, a PEG ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $59.46. The firm has a fifty day moving average price of $47.68 and a two-hundred day moving average price of $46.49. 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 announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating 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 business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business 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 $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

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.