Means Investment CO. Inc. Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Means Investment CO. Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,546 shares of the biopharmaceutical company’s stock after selling 1,331 shares during the quarter. Means Investment CO. Inc.’s holdings in Bristol-Myers Squibb were worth $1,352,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in shares of Bristol-Myers Squibb by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 509,789 shares of the biopharmaceutical company’s stock valued at $21,172,000 after purchasing an additional 18,806 shares during the period. Kempner Capital Management Inc. boosted its holdings in Bristol-Myers Squibb by 22.8% in the 2nd quarter. Kempner Capital Management Inc. now owns 108,144 shares of the biopharmaceutical company’s stock worth $4,491,000 after buying an additional 20,112 shares during the last quarter. Hedges Asset Management LLC increased its stake in Bristol-Myers Squibb by 61.2% during the 2nd quarter. Hedges Asset Management LLC now owns 38,600 shares of the biopharmaceutical company’s stock worth $1,603,000 after buying an additional 14,650 shares in the last quarter. MONECO Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 30.4% in the second quarter. MONECO Advisors LLC now owns 12,693 shares of the biopharmaceutical company’s stock valued at $527,000 after acquiring an additional 2,962 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its position in shares of Bristol-Myers Squibb by 27.6% in the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 295,008 shares of the biopharmaceutical company’s stock valued at $12,252,000 after acquiring an additional 63,737 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 0.1 %

NYSE:BMY traded down $0.06 during trading hours on Monday, reaching $49.30. 9,066,372 shares of the stock were exchanged, compared to its average volume of 15,861,075. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.41. 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 business has a 50-day moving average of $43.74 and a two-hundred day moving average of $46.57. The company has a market capitalization of $99.94 billion, a price-to-earnings ratio of -15.92, a PEG ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its 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 for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the business posted $1.75 EPS. On average, equities analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were given a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 4.87%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays downgraded Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective for the company. in a research note on Monday, July 29th. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. BMO Capital Markets dropped their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft decreased 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. Finally, TD Cowen upped their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $54.86.

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.