Blair William & Co. IL Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Blair William & Co. IL lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 13.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 582,159 shares of the biopharmaceutical company’s stock after selling 93,451 shares during the period. Blair William & Co. IL’s holdings in Bristol-Myers Squibb were worth $24,177,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BMY. ESL Trust Services LLC purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at $27,000. LGT Financial Advisors LLC boosted its position in 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 buying an additional 227 shares during the period. MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter worth $39,000. Fairman Group LLC bought a new position in Bristol-Myers Squibb in the 4th quarter worth $42,000. Finally, Beach Investment Counsel Inc. PA bought a new position in Bristol-Myers Squibb in the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $49.74 on Thursday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $59.46. The company’s 50-day moving average is $47.34 and its 200 day moving average is $46.48. The company has a market capitalization of $100.83 billion, a price-to-earnings ratio of -16.05, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. 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 (NYSE:BMY) last announced its quarterly earnings data 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 company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the prior year, the firm posted $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research reports. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday. Jefferies Financial Group upped their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Barclays upped their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two equities 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 MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.00.

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.