Texas Permanent School Fund Corp Sells 84,324 Shares of Bristol-Myers Squibb (NYSE:BMY)

Texas Permanent School Fund Corp cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 20.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 336,279 shares of the biopharmaceutical company’s stock after selling 84,324 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Bristol-Myers Squibb were worth $13,966,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BMY. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $27,000. LGT Financial Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb in the second quarter valued at approximately $39,000. Fairman Group LLC bought a new position in Bristol-Myers Squibb in the fourth quarter valued at approximately $42,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at $42,000. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. TD Cowen increased their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Barclays increased their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $54.67.

Bristol-Myers Squibb Stock Down 0.4 %

NYSE:BMY opened at $48.50 on Tuesday. The stock has a 50-day simple moving average of $46.09 and a 200 day simple moving average of $46.53. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.42. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The company has a market cap of $98.33 billion, a PE ratio of -15.65, a PEG ratio of 12.62 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating 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 firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the prior year, the firm posted $1.75 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given 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 4.95%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.