Brown Brothers Harriman & Co. Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Brown Brothers Harriman & Co. lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.1% in the second quarter, Holdings Channel reports. The institutional investor owned 93,540 shares of the biopharmaceutical company’s stock after selling 2,011 shares during the period. Brown Brothers Harriman & Co.’s holdings in Bristol-Myers Squibb were worth $3,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BMY. Capital International Investors lifted its stake in shares of Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after buying an additional 2,998,228 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 15.0% in the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after buying an additional 1,840,424 shares in the last quarter. Price T Rowe Associates Inc. MD grew 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 worth $680,469,000 after buying an additional 5,461,767 shares during the last quarter. Finally, M&G Plc raised its stake in shares of Bristol-Myers Squibb by 34.1% during the 2nd quarter. M&G Plc now owns 9,751,027 shares of the biopharmaceutical company’s stock worth $409,543,000 after acquiring an additional 2,480,515 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on BMY. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. TD Cowen upped their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Barclays raised their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday. Two equities research 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Stock Up 1.8 %

Bristol-Myers Squibb stock opened at $50.00 on Tuesday. The business’s 50-day moving average price is $46.99 and its 200 day moving average price is $46.47. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The firm has a market cap of $101.36 billion, a price-to-earnings ratio of -16.13, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $59.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping 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 analysts’ expectations of $11.54 billion. During the same quarter last year, the company earned $1.75 EPS. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.80%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -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.