Lebenthal Global Advisors LLC Purchases 2,178 Shares of Bristol-Myers Squibb (NYSE:BMY)

Lebenthal Global Advisors LLC raised its position in Bristol-Myers Squibb (NYSE:BMY) by 19.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 13,323 shares of the biopharmaceutical company’s stock after buying an additional 2,178 shares during the period. Lebenthal Global Advisors LLC’s holdings in Bristol-Myers Squibb were worth $689,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Lincoln National Corp boosted its position in Bristol-Myers Squibb by 7.7% in the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,052 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 206 shares during the last quarter. Xponance Inc. boosted its position in Bristol-Myers Squibb by 8.8% in the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after buying an additional 25,543 shares during the last quarter. Plato Investment Management Ltd boosted its position in Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after buying an additional 21,041 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in shares of Bristol-Myers Squibb by 47.0% in the 1st quarter. Advisory Services Network LLC now owns 119,423 shares of the biopharmaceutical company’s stock valued at $6,476,000 after purchasing an additional 38,163 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on BMY. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $75.00 to $55.00 in a research note on Friday, October 25th. Barclays increased their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on 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. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $52.38.

Bristol-Myers Squibb Stock Down 1.9 %

Shares of BMY traded down $1.04 during midday trading on Friday, hitting $54.73. The stock had a trading volume of 1,806,085 shares, compared to its average volume of 14,432,123. The company has a 50 day simple moving average of $51.14 and a two-hundred day simple moving average of $46.54. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.20. The firm has a market cap of $110.96 billion, a price-to-earnings ratio of -17.10, a price-to-earnings-growth ratio of 14.62 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the business posted $2.00 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts anticipate that Bristol-Myers Squibb will post 0.72 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -73.62%.

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.