Ieq Capital LLC Sells 8,957 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ieq Capital LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,527 shares of the biopharmaceutical company’s stock after selling 8,957 shares during the quarter. Ieq Capital LLC’s holdings in Bristol-Myers Squibb were worth $2,555,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BMY. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $27,000. LGT Financial Advisors LLC grew its stake in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $39,000. Fairman Group LLC bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in Bristol-Myers Squibb in the 2nd quarter valued at $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BMY. Deutsche Bank Aktiengesellschaft lowered 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 report on Tuesday, July 23rd. Barclays lifted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Finally, Jefferies Financial Group increased 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $49.41 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year 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 fifty day moving average price is $47.68 and its two-hundred day moving average price is $46.45. The firm 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.

Bristol-Myers Squibb (NYSE:BMY) last released 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. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate 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 revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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

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.