Simmons Bank Has $1.84 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Simmons Bank reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 2.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 44,267 shares of the biopharmaceutical company’s stock after selling 1,225 shares during the period. Simmons Bank’s holdings in Bristol-Myers Squibb were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbour Investments Inc. raised its holdings in Bristol-Myers Squibb by 6.4% during the 2nd quarter. Harbour Investments Inc. now owns 28,056 shares of the biopharmaceutical company’s stock valued at $1,165,000 after acquiring an additional 1,690 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Bristol-Myers Squibb by 9.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 5,389 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 447 shares during the period. AustralianSuper Pty Ltd raised its stake in Bristol-Myers Squibb by 25.2% in the second quarter. AustralianSuper Pty Ltd now owns 3,857,561 shares of the biopharmaceutical company’s stock valued at $160,205,000 after purchasing an additional 775,908 shares in the last quarter. Wealth Advisory Solutions LLC bought a new position in Bristol-Myers Squibb during the 2nd quarter valued at approximately $231,000. Finally, Skylands Capital LLC increased its holdings in Bristol-Myers Squibb by 17.0% in the 2nd quarter. Skylands Capital LLC now owns 220,800 shares of the biopharmaceutical company’s stock worth $9,170,000 after acquiring an additional 32,150 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY stock traded up $0.94 during trading on Wednesday, hitting $49.06. The company had a trading volume of 8,275,211 shares, compared to its average volume of 15,523,439. The company has a market cap of $99.45 billion, a P/E ratio of -15.83, a P/E/G ratio of 12.51 and a beta of 0.44. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. The company has a fifty day moving average price of $44.52 and a two-hundred day moving average price of $46.56. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The company 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 company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.75 earnings per share. Equities research 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 announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 4.89%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. TD Cowen upped their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Barclays raised their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. 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, Jefferies Financial Group increased their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $54.67.

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.