Bristol-Myers Squibb (NYSE:BMY) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 28.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 546 shares of the biopharmaceutical company’s stock after selling 213 shares during the period. LGT Financial Advisors LLC’s holdings in Bristol-Myers Squibb were worth $28,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors grew its stake in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares during the period. Primecap Management Co. CA grew its position in shares of Bristol-Myers Squibb by 1.0% in the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after purchasing an additional 225,197 shares during the period. Legal & General Group Plc increased its stake in Bristol-Myers Squibb by 3.8% in the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after purchasing an additional 735,613 shares during the last quarter. Independent Franchise Partners LLP lifted its position in Bristol-Myers Squibb by 4.0% during the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after buying an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC boosted its stake in Bristol-Myers Squibb by 15.0% in the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after buying an additional 1,840,424 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, BMO Capital Markets boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Down 1.0 %

Shares of Bristol-Myers Squibb stock opened at $54.74 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.80. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The business’s 50 day simple moving average is $51.69 and its 200-day simple moving average is $46.72.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period last year, the company earned $2.00 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.9 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.38%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Company 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.