Chicago Capital LLC Sells 1,775 Shares of Bristol-Myers Squibb (NYSE:BMY)

Chicago Capital LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,021 shares of the biopharmaceutical company’s stock after selling 1,775 shares during the quarter. Chicago Capital LLC’s holdings in Bristol-Myers Squibb were worth $582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BMY. Global Assets Advisory LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth about $5,161,000. Principal Securities Inc. purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $1,139,000. Lincoln National Corp grew its stake in shares of Bristol-Myers Squibb by 7.7% during the first 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. Chapin Davis Inc. raised its holdings in shares of Bristol-Myers Squibb by 22.6% in the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 4,159 shares during the period. Finally, Sierra Summit Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $755,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of a number of research analyst reports. TD Cowen lifted their price objective 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. Barclays raised their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. 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. Finally, Jefferies Financial Group upped their target price 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, thirteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Stock Performance

BMY opened at $48.70 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.42. 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 firm’s 50-day moving average price is $45.95 and its 200 day moving average price is $46.58. The firm has a market capitalization of $98.72 billion, a PE ratio of -15.71, a PEG ratio of 12.92 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 for the quarter, beating the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 EPS. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.93%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

About Bristol-Myers Squibb

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.