Goelzer Investment Management Inc. Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

Goelzer Investment Management Inc. cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,836 shares of the biopharmaceutical company’s stock after selling 2,113 shares during the period. Goelzer Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $6,769,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Thrive Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $228,000. Rockland Trust Co. boosted its stake in Bristol-Myers Squibb by 0.5% in the third quarter. Rockland Trust Co. now owns 198,579 shares of the biopharmaceutical company’s stock worth $10,274,000 after buying an additional 992 shares in the last quarter. Duncan Williams Asset Management LLC bought a new position in Bristol-Myers Squibb during the third quarter valued at approximately $210,000. Czech National Bank raised its stake in shares of Bristol-Myers Squibb by 6.9% during the third quarter. Czech National Bank now owns 413,002 shares of the biopharmaceutical company’s stock worth $21,369,000 after acquiring an additional 26,718 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its holdings in shares of Bristol-Myers Squibb by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after acquiring an additional 39,419 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. TD Cowen lifted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lowered their target price 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. Barclays raised their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of BMY traded up $0.36 on Friday, reaching $53.96. The stock had a trading volume of 12,831,885 shares, compared to its average volume of 15,080,382. 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 12-month low of $39.35 and a 12-month high of $57.65. The firm has a market capitalization of $109.38 billion, a price-to-earnings ratio of -17.40, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46. The company has a 50-day simple moving average of $49.34 and a 200-day simple moving average of $46.40.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.75 EPS. Sell-side analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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 paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.45%. Bristol-Myers Squibb’s 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.