Bristol-Myers Squibb (NYSE:BMY) Shares Sold by BBR Partners LLC

BBR Partners LLC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,089 shares of the biopharmaceutical company’s stock after selling 899 shares during the quarter. BBR Partners LLC’s holdings in Bristol-Myers Squibb were worth $461,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new position in Bristol-Myers Squibb in the 4th quarter worth about $1,560,524,000. Capital International Investors raised 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 buying an additional 8,675,322 shares during the period. M&G Plc purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at approximately $392,608,000. Pzena Investment Management LLC grew its stake in Bristol-Myers Squibb by 119.8% in 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 acquiring an additional 6,701,097 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Bristol-Myers Squibb by 77.1% in 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. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of NYSE BMY opened at $49.79 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.42. The company has a market capitalization of $100.93 billion, a P/E ratio of -16.06, a P/E/G ratio of 12.92 and a beta of 0.44. The company has a 50 day simple moving average of $45.80 and a 200-day simple moving average of $46.61. 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 posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BMY. Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Jefferies Financial Group boosted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft decreased their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Barclays lifted their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Two equities 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.67.

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.