CGN Advisors LLC Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

CGN Advisors LLC lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 74.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,200 shares of the biopharmaceutical company’s stock after selling 30,495 shares during the quarter. CGN Advisors LLC’s holdings in Bristol-Myers Squibb were worth $424,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMY. Foundation Resource Management Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $6,528,000. First Affirmative Financial Network raised its stake in Bristol-Myers Squibb by 17.6% during the second quarter. First Affirmative Financial Network now owns 5,548 shares of the biopharmaceutical company’s stock valued at $230,000 after purchasing an additional 830 shares in the last quarter. Keystone Financial Planning Inc. lifted its position in Bristol-Myers Squibb by 1.4% during the second quarter. Keystone Financial Planning Inc. now owns 135,826 shares of the biopharmaceutical company’s stock valued at $5,641,000 after purchasing an additional 1,899 shares during the last quarter. CWM LLC increased its holdings in shares of Bristol-Myers Squibb by 4.5% in the 2nd quarter. CWM LLC now owns 542,687 shares of the biopharmaceutical company’s stock worth $22,538,000 after buying an additional 23,224 shares during the last quarter. Finally, CVA Family Office LLC raised its position in shares of Bristol-Myers Squibb by 18.2% during the 2nd quarter. CVA Family Office LLC now owns 7,993 shares of the biopharmaceutical company’s stock valued at $332,000 after buying an additional 1,229 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.8 %

NYSE BMY traded up $0.35 on Thursday, reaching $46.85. 15,212,928 shares of the stock traded hands, compared to its average volume of 15,980,182. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.41. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.99 and a current ratio of 1.16. The company has a fifty day moving average price of $42.78 and a 200-day moving average price of $46.67. The company has a market cap of $94.97 billion, a price-to-earnings ratio of -15.09, a PEG ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. As a group, research analysts forecast 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. Investors of record on Friday, July 5th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Ratings Changes

Several research firms recently commented on BMY. Deutsche Bank Aktiengesellschaft dropped their price target on 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. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. BMO Capital Markets cut their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $55.79.

About Bristol-Myers Squibb

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.