Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Forbes J M & Co. LLP

Forbes J M & Co. LLP lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 13.3% in the 3rd quarter, Holdings Channel reports. The fund owned 8,027 shares of the biopharmaceutical company’s stock after selling 1,228 shares during the period. Forbes J M & Co. LLP’s holdings in Bristol-Myers Squibb were worth $415,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BMY. Capital International Investors lifted its position in shares of Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after acquiring 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 1st quarter valued at approximately $392,608,000. Pzena Investment Management LLC lifted its position in shares of Bristol-Myers Squibb by 119.8% in the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after acquiring an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Bristol-Myers Squibb by 77.1% in the 1st 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 acquiring an additional 5,461,767 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Bristol-Myers Squibb by 97.2% in the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after acquiring an additional 3,918,234 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded up $0.78 during midday trading on Monday, reaching $52.70. The stock had a trading volume of 1,196,982 shares, compared to its average volume of 14,488,955. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $55.03. The firm’s fifty day simple moving average is $50.75 and its 200-day simple moving average is $46.38. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The stock has a market capitalization of $106.83 billion, a P/E ratio of -16.75, a PEG ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) 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 analyst estimates of $11.54 billion. During the same period last year, the business posted $1.75 EPS. Bristol-Myers Squibb’s 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 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. TD Cowen upped 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. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Citigroup downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $75.00 to $55.00 in a research report on Friday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $53.57.

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.