Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Curbstone Financial Management Corp

Curbstone Financial Management Corp cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,464 shares of the biopharmaceutical company’s stock after selling 326 shares during the period. Curbstone Financial Management Corp’s holdings in Bristol-Myers Squibb were worth $1,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC raised its position in shares of Bristol-Myers Squibb by 42.7% in the 2nd 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 in the last quarter. Fairman Group LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $42,000. Redmont Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $47,000. Finally, Accent Capital Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $46,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BMY shares. Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft cut 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. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Barclays boosted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $54.18 on Friday. The company has a market cap of $109.83 billion, a P/E ratio of -17.48, a PEG ratio of 12.96 and a beta of 0.46. The stock has a fifty day moving average price of $49.27 and a 200 day moving average price of $46.39. 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 $57.65.

Bristol-Myers Squibb (NYSE:BMY) last issued 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 firm had revenue of $12.20 billion during 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 firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.75 EPS. On average, research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -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.