MCF Advisors LLC Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

MCF Advisors LLC cut its position in Bristol-Myers Squibb (NYSE:BMY) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,109 shares of the biopharmaceutical company’s stock after selling 278 shares during the period. MCF Advisors LLC’s holdings in Bristol-Myers Squibb were worth $295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Gryphon Financial Partners LLC grew its position in shares of Bristol-Myers Squibb by 23.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 995 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in Bristol-Myers Squibb by 19.1% in the 4th quarter. E Fund Management Co. Ltd. now owns 5,619 shares of the biopharmaceutical company’s stock valued at $288,000 after buying an additional 902 shares in the last quarter. Wealthspire Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 20.3% in the 4th quarter. Wealthspire Advisors LLC now owns 35,401 shares of the biopharmaceutical company’s stock worth $1,816,000 after acquiring an additional 5,962 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $1,139,000. Finally, Principal Street Partners LLC raised its stake in Bristol-Myers Squibb by 1.5% during the fourth quarter. Principal Street Partners LLC now owns 80,906 shares of the biopharmaceutical company’s stock worth $4,151,000 after purchasing an additional 1,175 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on BMY. Jefferies Financial Group lifted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. TD Cowen boosted their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Barclays raised their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $54.67.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $49.79 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.42. The company’s 50 day simple moving average is $45.80 and its 200 day simple moving average is $46.61. The company has a market capitalization of $100.93 billion, a price-to-earnings ratio of -16.06, a PEG ratio of 12.92 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 4.82%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

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.