Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Holderness Investments Co.

Holderness Investments Co. lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 38,932 shares of the biopharmaceutical company’s stock after selling 5,484 shares during the period. Holderness Investments Co.’s holdings in Bristol-Myers Squibb were worth $1,617,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of BMY. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter worth about $27,000. LGT Financial Advisors LLC boosted its position 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 worth $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 approximately $39,000. Fairman Group LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in Bristol-Myers Squibb during the 2nd quarter worth $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $49.41 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $59.46. The company has a market cap of $100.16 billion, a PE ratio of -15.94, a PEG ratio of 12.59 and a beta of 0.46. The stock’s 50-day moving average price is $47.68 and its two-hundred day moving average price is $46.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates 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 firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 earnings per share. On average, analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm 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 $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.86%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analyst Ratings Changes

BMY has been the topic of a number of research analyst reports. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Barclays raised their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Finally, Jefferies Financial Group lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Two research 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.00.

About Bristol-Myers Squibb

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.