Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 366,450 shares of the biopharmaceutical company’s stock after selling 29,600 shares during the period. Gabelli Funds LLC’s holdings in Bristol-Myers Squibb were worth $15,219,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BMY. Itau Unibanco Holding S.A. acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at about $59,000. Independent Franchise Partners LLP increased its holdings in Bristol-Myers Squibb by 4.0% in the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after buying an additional 556,295 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of Bristol-Myers Squibb by 85.1% during 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 in the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Bristol-Myers Squibb by 17.4% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,074,685 shares of the biopharmaceutical company’s stock worth $44,632,000 after acquiring an additional 159,140 shares during the period. Finally, Heron Bay Capital Management purchased a new position in Bristol-Myers Squibb in the 2nd quarter valued at approximately $521,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $50.02 on Tuesday. The stock has a fifty day moving average price of $47.88 and a 200 day moving average price of $46.38. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $59.28. The firm has a market capitalization of $101.39 billion, a P/E ratio of -16.13, a PEG ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS 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 company 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 company posted $1.75 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current 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 paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.80%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analyst Ratings Changes

A number of research firms have commented on BMY. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price objective 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 report on Monday, September 16th. TD Cowen increased their price target on shares of 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, Jefferies Financial Group lifted their price objective 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 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 data from MarketBeat, the stock presently 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.