Bartlett & CO. Wealth Management LLC Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Bartlett & CO. Wealth Management LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,563 shares of the biopharmaceutical company’s stock after selling 18,148 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $8,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BMY. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $27,000. LGT Financial Advisors LLC grew its holdings 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 worth $32,000 after acquiring an additional 227 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at $34,000. MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth $39,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BMY. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday. TD Cowen raised their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Barclays upped their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research note on Thursday. They issued a “market perform” rating and a $56.00 price target on the stock. Finally, Jefferies Financial Group boosted their price target on 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 equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $53.20.

Bristol-Myers Squibb Price Performance

BMY stock opened at $53.22 on Friday. The stock has a market capitalization of $107.88 billion, a price-to-earnings ratio of -17.17, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $57.09. The stock’s fifty day simple moving average is $50.36 and its 200-day simple moving average is $46.42.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS 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 company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the previous year, the business earned $1.75 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors 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 4.51%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) 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.