Commonwealth Financial Services LLC Trims Position in Bristol-Myers Squibb (NYSE:BMY)

Commonwealth Financial Services LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,738 shares of the biopharmaceutical company’s stock after selling 595 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Bristol-Myers Squibb were worth $309,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BMY. EverSource Wealth Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 14.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,695 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 703 shares during the last quarter. Fairscale Capital LLC purchased a new position in Bristol-Myers Squibb in the 2nd quarter valued at $100,000. Itau Unibanco Holding S.A. acquired a new position in Bristol-Myers Squibb in the 2nd quarter valued at $59,000. Independent Franchise Partners LLP raised its position in Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after buying an additional 556,295 shares during the last quarter. Finally, Fidelis Capital Partners LLC lifted its stake in shares of Bristol-Myers Squibb by 85.1% in the 2nd quarter. Fidelis Capital Partners LLC now owns 13,068 shares of the biopharmaceutical company’s stock worth $543,000 after acquiring an additional 6,007 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft dropped their target price 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. Jefferies Financial Group raised their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Finally, TD Cowen raised their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Two research 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. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $49.41 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company’s 50-day moving average price is $47.68 and its 200 day moving average price is $46.40. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $59.46. The stock has a market cap of $100.16 billion, a price-to-earnings ratio of -15.94, a PEG ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating 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 business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the business earned $1.75 earnings per share. The company’s quarterly 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 fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.86%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.