SPC Financial Inc. Sells 1,319 Shares of Bristol-Myers Squibb (NYSE:BMY)

SPC Financial Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 18.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,849 shares of the biopharmaceutical company’s stock after selling 1,319 shares during the period. SPC Financial Inc.’s holdings in Bristol-Myers Squibb were worth $243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. ESL Trust Services LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $27,000. LGT Financial Advisors LLC increased its position in shares of Bristol-Myers Squibb by 42.7% during 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 during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth $39,000. Fairman Group LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth about $42,000. Finally, Beach Investment Counsel Inc. PA bought a new position in Bristol-Myers Squibb during the second quarter valued at about $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 2.3 %

Bristol-Myers Squibb stock opened at $52.91 on Wednesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $58.06. The stock has a market cap of $107.25 billion, a P/E ratio of -17.07, a PEG ratio of 12.96 and a beta of 0.46. The firm’s fifty day moving average price is $48.91 and its 200-day moving average price is $46.28.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter last year, the firm posted $1.75 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BMY shares. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. TD Cowen increased their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Barclays boosted their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.