Sutton Place Investors LLC Sells 13,700 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sutton Place Investors LLC trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 65.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,326 shares of the biopharmaceutical company’s stock after selling 13,700 shares during the period. Sutton Place Investors LLC’s holdings in Bristol-Myers Squibb were worth $304,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Traynor Capital Management Inc. grew its holdings in Bristol-Myers Squibb by 2.8% in the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 207 shares during the last quarter. Fulton Breakefield Broenniman LLC grew its holdings in shares of Bristol-Myers Squibb by 4.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock worth $243,000 after purchasing an additional 209 shares in the last quarter. Accurate Wealth Management LLC boosted its stake in Bristol-Myers Squibb by 4.0% in the 1st quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock valued at $304,000 after buying an additional 216 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in Bristol-Myers Squibb by 12.8% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 216 shares during the last quarter. Finally, Bfsg LLC raised its position in Bristol-Myers Squibb by 24.4% in the 1st quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 220 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.25 during trading on Friday, hitting $49.36. The stock had a trading volume of 14,161,770 shares, compared to its average volume of 15,904,074. The stock has a market cap of $100.06 billion, a price-to-earnings ratio of -15.92, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44. The stock’s 50 day moving average is $43.74 and its two-hundred day moving average is $46.58. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year 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.

Bristol-Myers Squibb (NYSE:BMY) last released 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 business had revenue of $12.20 billion for 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%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.75 earnings per share. As a group, analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.86%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BMY shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Barclays lowered Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective on the stock. in a research note on Monday, July 29th. BMO Capital Markets lowered their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Finally, TD Cowen increased their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $54.86.

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.