Bristol-Myers Squibb (NYSE:BMY) Shares Sold by MTM Investment Management LLC

MTM Investment Management LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,305 shares of the biopharmaceutical company’s stock after selling 3,105 shares during the period. MTM Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $1,051,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BMY. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $27,000. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $34,000. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter worth approximately $39,000. Finally, Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Barclays raised 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. Deutsche Bank Aktiengesellschaft cut 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 report on Tuesday, July 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, TD Cowen raised their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $54.93.

Bristol-Myers Squibb Stock Up 0.3 %

Shares of BMY traded up $0.15 during mid-day trading on Monday, reaching $48.26. 4,948,627 shares of the stock traded hands, compared to its average volume of 15,620,100. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The stock has a fifty day simple moving average of $44.52 and a 200 day simple moving average of $46.56. The firm has a market cap of $97.83 billion, a price-to-earnings ratio of -15.57, a P/E/G ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping 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 business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 earnings per share. Sell-side analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend 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.