Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 366,450 shares of the biopharmaceutical company’s stock after selling 29,600 shares during the quarter. Gabelli Funds LLC’s holdings in Bristol-Myers Squibb were worth $15,219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Bristol-Myers Squibb in the second quarter worth $59,000. Independent Franchise Partners LLP boosted its position in Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after purchasing an additional 556,295 shares during the period. Fidelis Capital Partners LLC increased its holdings in Bristol-Myers Squibb by 85.1% in the 2nd quarter. Fidelis Capital Partners LLC now owns 13,068 shares of the biopharmaceutical company’s stock valued at $543,000 after purchasing an additional 6,007 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of Bristol-Myers Squibb by 17.4% during the second quarter. Epoch Investment Partners Inc. now owns 1,074,685 shares of the biopharmaceutical company’s stock worth $44,632,000 after purchasing an additional 159,140 shares in the last quarter. Finally, Heron Bay Capital Management purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $521,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on BMY. Barclays raised their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday. Finally, Jefferies Financial Group raised their target price 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. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $50.02 on Tuesday. The firm has a market cap of $101.39 billion, a P/E ratio of -16.13, a P/E/G ratio of 12.59 and a beta of 0.46. The stock’s 50 day simple moving average is $47.88 and its 200 day simple moving average is $46.38. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $59.28.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (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 company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period last year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) 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.