Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,170,856 shares of the biopharmaceutical company’s stock after selling 31,898 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Bristol-Myers Squibb were worth $60,580,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BMY. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb during the first quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new position in Bristol-Myers Squibb in the third quarter valued at $34,000. LGT Financial Advisors LLC grew its position in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the first quarter worth about $47,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter worth about $39,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BMY. Deutsche Bank Aktiengesellschaft reduced their price objective on 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. Barclays lifted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research note on Thursday. They issued a “market perform” rating and a $56.00 price target for the company. Finally, Jefferies Financial Group increased their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $53.20.

Bristol-Myers Squibb Stock Up 0.1 %

NYSE:BMY opened at $53.22 on Friday. The firm has a market capitalization of $107.88 billion, a PE ratio of -17.17, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $57.09. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a 50 day moving average of $50.36 and a 200-day moving average of $46.37.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results 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 firm had revenue of $12.20 billion for the quarter, compared to analyst estimates 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 for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.75 earnings per share. Analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -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.