Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 88.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,070 shares of the biopharmaceutical company’s stock after selling 46,006 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Bristol-Myers Squibb were worth $252,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $27,000. LGT Financial Advisors LLC lifted its holdings in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb in the second quarter valued at approximately $39,000. Fairman Group LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $42,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BMY. TD Cowen boosted their price objective 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. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday. Barclays lifted their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 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 lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $49.74 on Thursday. 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 business’s 50-day moving average price is $47.34 and its 200 day moving average price is $46.48. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $59.46. The firm has a market cap of $100.83 billion, a P/E ratio of -16.05, a PEG ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the previous year, the company posted $1.75 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal 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 paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -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.