Bristol-Myers Squibb (NYSE:BMY) Position Decreased by First City Capital Management Inc.

First City Capital Management Inc. cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 29.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,825 shares of the biopharmaceutical company’s stock after selling 7,907 shares during the period. First City Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $782,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BMY. Capital International Investors increased its position in shares of Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares in the last quarter. Primecap Management Co. CA grew its position in Bristol-Myers Squibb by 1.0% during the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after purchasing an additional 225,197 shares in the last quarter. Independent Franchise Partners LLP raised its stake in Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after purchasing an additional 556,295 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 15.0% in the second quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after purchasing an additional 1,840,424 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after buying an additional 5,461,767 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BMY. Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Barclays lifted their target price 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. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group boosted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Trading Up 0.8 %

Shares of Bristol-Myers Squibb stock opened at $49.41 on Friday. The company has a market cap of $100.16 billion, a price-to-earnings ratio of -15.94, a PEG ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $59.46. The company’s fifty day simple moving average is $47.68 and its 200-day simple moving average is $46.45. 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 (NYSE:BMY) last announced its quarterly earnings data 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 business had revenue of $12.20 billion during 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 for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.75 earnings per share. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced 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 dividend yield of 4.86%. Bristol-Myers Squibb’s payout ratio is -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.