Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,270 shares of the biopharmaceutical company’s stock after selling 17,910 shares during the period. Clearbridge Investments LLC’s holdings in Bristol-Myers Squibb were worth $4,413,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Traynor Capital Management Inc. lifted its position in shares of Bristol-Myers Squibb by 2.8% in the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 207 shares during the last quarter. Paragon Capital Management LLC lifted its holdings in Bristol-Myers Squibb by 1.1% in the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after acquiring an additional 222 shares during the last quarter. OmniStar Financial Group Inc. boosted its stake in Bristol-Myers Squibb by 1.7% in the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after acquiring an additional 224 shares during the period. LGT Financial Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 42.7% during the second 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. Finally, Bell Investment Advisors Inc raised its position in shares of Bristol-Myers Squibb by 18.1% during the 1st quarter. Bell Investment Advisors Inc now owns 1,537 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 236 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BMY. Barclays boosted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut 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 report on Tuesday, July 23rd. BMO Capital Markets restated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Finally, Jefferies Financial Group boosted their price target 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $53.96 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The firm’s 50 day moving average is $49.34 and its 200-day moving average is $46.37. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.65. The stock has a market capitalization of $109.38 billion, a P/E ratio of -17.41, a P/E/G ratio of 12.96 and a beta of 0.46.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -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.