Resources Management Corp CT ADV Has $2.36 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Resources Management Corp CT ADV reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,822 shares of the biopharmaceutical company’s stock after selling 2,260 shares during the period. Resources Management Corp CT ADV’s holdings in Bristol-Myers Squibb were worth $2,360,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Capital International Investors boosted its stake in shares of Bristol-Myers Squibb by 14.1% during the 1st 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 boosted its stake in shares of 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 acquiring an additional 225,197 shares in the last quarter. Independent Franchise Partners LLP boosted its stake in shares of 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 worth $606,364,000 after acquiring an additional 556,295 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Bristol-Myers Squibb by 15.0% during the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after acquiring an additional 1,840,424 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $50.02 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market cap of $101.39 billion, a PE ratio of -16.13, a PEG ratio of 12.59 and a beta of 0.46. The company’s 50-day moving average is $47.88 and its two-hundred day moving average is $46.38. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $59.28.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results 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 company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 EPS. Equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share 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. Investors of record on Friday, October 4th will be paid a dividend of $0.60 per share. 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 4.80%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BMY shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Barclays boosted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target 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.