Lyell Wealth Management LP Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Lyell Wealth Management LP lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,770 shares of the biopharmaceutical company’s stock after selling 648 shares during the period. Lyell Wealth Management LP’s holdings in Bristol-Myers Squibb were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. M&G Plc purchased a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $392,608,000. Pzena Investment Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 119.8% in the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after purchasing an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Bristol-Myers Squibb by 97.2% in the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after purchasing an additional 3,918,234 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Jefferies Financial Group boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $54.67.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $49.13 on Monday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $60.55. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The company has a 50 day moving average price of $46.79 and a 200 day moving average price of $46.47. The firm has a market capitalization of $99.59 billion, a price-to-earnings ratio of -15.85, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the prior year, the business posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS 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. Stockholders of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s 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.