Wrapmanager Inc. Cuts Position in Bristol-Myers Squibb (NYSE:BMY)

Wrapmanager Inc. lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 28.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,092 shares of the biopharmaceutical company’s stock after selling 2,811 shares during the period. Wrapmanager Inc.’s holdings in Bristol-Myers Squibb were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth $27,000. LGT Financial Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 42.7% in the second 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. Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $42,000. Redmont Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $47,000. Finally, Accent Capital Management LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $46,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Up 1.8 %

Shares of BMY opened at $49.13 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $60.55. The firm has a market capitalization of $99.61 billion, a P/E ratio of -15.85, a price-to-earnings-growth ratio of 12.59 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 stock’s fifty day simple moving average is $46.79 and its 200 day simple moving average is $46.50.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates 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 company 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 business posted $1.75 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.88%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BMY. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Barclays boosted their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. TD Cowen raised their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft reduced their price objective 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, Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $54.67.

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.