Sanders Morris Harris LLC Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

Sanders Morris Harris LLC decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 41.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,137 shares of the biopharmaceutical company’s stock after selling 13,314 shares during the quarter. Sanders Morris Harris LLC’s holdings in Bristol-Myers Squibb were worth $990,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BMY. Capital International Investors raised its position in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after buying an additional 8,675,322 shares during the last quarter. M&G Plc purchased a new position in Bristol-Myers Squibb in the 1st quarter worth about $392,608,000. Pzena Investment Management LLC increased its position in shares of Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after purchasing an additional 6,701,097 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position 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 valued at $680,469,000 after purchasing an additional 5,461,767 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Bristol-Myers Squibb by 97.2% during the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after purchasing an additional 3,918,234 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BMY. Jefferies Financial Group upped their price target 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. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. Finally, TD Cowen boosted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $53.00.

Bristol-Myers Squibb Stock Up 0.3 %

Shares of BMY opened at $52.96 on Thursday. The stock has a market capitalization of $107.36 billion, a price-to-earnings ratio of -17.03, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.65. The business’s 50 day simple moving average is $49.60 and its 200-day simple moving average is $46.39. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the prior year, the firm posted $1.75 EPS. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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 dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.53%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Bristol-Myers Squibb 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.