Thrivent Financial for Lutherans Trims Holdings in Bristol-Myers Squibb (NYSE:BMY)

Thrivent Financial for Lutherans trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 10.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 111,394 shares of the biopharmaceutical company’s stock after selling 12,449 shares during the period. Thrivent Financial for Lutherans’ holdings in Bristol-Myers Squibb were worth $4,625,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BMY. Capital International Investors lifted its holdings in shares of Bristol-Myers Squibb by 14.1% during the first 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 period. Primecap Management Co. CA lifted its stake in shares of Bristol-Myers Squibb by 1.0% in the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after acquiring an additional 225,197 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 15.0% in the second quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after acquiring an additional 1,840,424 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares during the period. Finally, M&G Plc lifted its position in Bristol-Myers Squibb by 34.1% in the second quarter. M&G Plc now owns 9,751,027 shares of the biopharmaceutical company’s stock valued at $409,543,000 after purchasing an additional 2,480,515 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on 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. Barclays boosted their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. TD Cowen increased their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. 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. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Stock Up 1.6 %

Shares of NYSE:BMY opened at $50.92 on Friday. The company’s fifty day moving average is $48.53 and its two-hundred day moving average is $46.38. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $58.46. The stock has a market capitalization of $103.22 billion, a price-to-earnings ratio of -16.43, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46.

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

Bristol-Myers Squibb Announces Dividend

The business also recently announced 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. This represents a $2.40 annualized dividend and a yield of 4.71%. 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.