Weaver C. Barksdale & Associates Inc. Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

Weaver C. Barksdale & Associates Inc. trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,618 shares of the biopharmaceutical company’s stock after selling 503 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in Bristol-Myers Squibb were worth $856,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. LGT Financial Advisors LLC increased its stake 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 worth $32,000 after purchasing an additional 227 shares in the last quarter. Fairman Group LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $42,000. Redmont Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter valued at approximately $47,000. Finally, Accent Capital Management LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the topic of several recent research reports. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Barclays lifted their price target 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. Jefferies Financial Group boosted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, 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. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $49.02 on Friday. The company has a market cap of $99.36 billion, a price-to-earnings ratio of -15.81, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $59.46. 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 stock’s 50-day moving average is $47.50 and its 200-day moving average is $46.50.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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 firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter last year, the firm posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share 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 issued a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.90%. Bristol-Myers Squibb’s dividend 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.