Benedict Financial Advisors Inc. Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Benedict Financial Advisors Inc. lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 9.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 65,306 shares of the biopharmaceutical company’s stock after selling 6,630 shares during the period. Benedict Financial Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $3,379,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Legacy Wealth Asset Management LLC increased its position in Bristol-Myers Squibb by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after purchasing an additional 215 shares during the period. Paragon Capital Management LLC raised its stake in Bristol-Myers Squibb by 1.1% in the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after buying an additional 222 shares in the last quarter. OmniStar Financial Group Inc. boosted its position in Bristol-Myers Squibb by 1.7% during the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after acquiring an additional 224 shares in the last quarter. LGT Financial Advisors LLC raised its position in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. Finally, Cassia Capital Partners LLC lifted its stake in shares of Bristol-Myers Squibb by 2.9% in the 3rd quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock valued at $425,000 after purchasing an additional 235 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BMY shares. Barclays raised their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Jefferies Financial Group lifted their target price on shares of 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 objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of 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. Finally, UBS Group upped their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.31.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded down $1.00 during trading hours on Friday, reaching $51.92. 7,127,425 shares of the company traded hands, compared to its average volume of 14,553,149. The firm has a 50-day moving average price of $50.75 and a 200 day moving average price of $46.44. The company has a market cap of $105.25 billion, a P/E ratio of -16.75, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $55.29. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 earnings per share. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.