Kendall Capital Management Cuts Position in Bristol-Myers Squibb (NYSE:BMY)

Kendall Capital Management decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 3.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 46,942 shares of the biopharmaceutical company’s stock after selling 1,542 shares during the period. Kendall Capital Management’s holdings in Bristol-Myers Squibb were worth $1,950,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BMY. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb in the first quarter valued at $27,000. LGT Financial Advisors LLC grew 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 valued at $32,000 after purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb in the second quarter valued at $39,000. Fairman Group LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in Bristol-Myers Squibb in the second quarter valued at $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday. Barclays increased their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective 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. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $49.74 on Thursday. The stock’s 50-day moving average is $47.34 and its 200-day moving average is $46.48. The company has a market cap of $100.83 billion, a price-to-earnings ratio of -16.05, a price-to-earnings-growth ratio of 12.59 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 has a 12 month low of $39.35 and a 12 month high of $59.46.

Bristol-Myers Squibb (NYSE:BMY) last released 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. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $1.75 EPS. Equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company 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. 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 4.83%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -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.