Sfmg LLC Sells 614 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sfmg LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.1% in the second quarter, HoldingsChannel reports. The fund owned 28,853 shares of the biopharmaceutical company’s stock after selling 614 shares during the period. Sfmg LLC’s holdings in Bristol-Myers Squibb were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Global Assets Advisory LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at approximately $5,161,000. Lincoln National Corp boosted its stake in Bristol-Myers Squibb by 7.7% in the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after purchasing an additional 3,052 shares during the period. Chapin Davis Inc. boosted its stake in Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after purchasing an additional 4,159 shares during the period. Sierra Summit Advisors LLC bought a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $755,000. Finally, Scotia Capital Inc. boosted its stake in Bristol-Myers Squibb by 48.6% in the 4th quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock worth $12,146,000 after purchasing an additional 77,471 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BMY shares. Deutsche Bank Aktiengesellschaft dropped their price target on 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. Barclays upped their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. BMO Capital Markets restated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, TD Cowen raised their target price 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. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Stock Up 1.9 %

Shares of BMY opened at $50.95 on Wednesday. The company has a market cap of $103.28 billion, a PE ratio of -16.44, a P/E/G ratio of 12.59 and a beta of 0.46. The business has a fifty day moving average of $48.07 and a 200 day moving average of $46.36. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $59.28. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.75 earnings per share. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.71%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Bristol-Myers Squibb Company 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.