Ramsay Stattman Vela & Price Inc. Has $894,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Ramsay Stattman Vela & Price Inc. lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 40.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,275 shares of the biopharmaceutical company’s stock after selling 11,900 shares during the period. Ramsay Stattman Vela & Price Inc.’s holdings in Bristol-Myers Squibb were worth $894,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BMY. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at $27,000. LGT Financial Advisors LLC increased its stake in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $34,000. MFA Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb during the 2nd quarter valued at $39,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in Bristol-Myers Squibb during the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded down $0.20 on Tuesday, reaching $52.44. The stock had a trading volume of 1,794,246 shares, compared to its average volume of 14,463,296. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $55.03. The company has a market cap of $106.30 billion, a P/E ratio of -16.98, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. 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 business’s 50 day moving average is $50.82 and its two-hundred day moving average is $46.41.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period last year, the firm posted $1.75 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of brokerages have commented on BMY. 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 for the company. UBS Group increased their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. TD Cowen increased their price target 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. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $53.57.

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.