Legacy Private Trust Co. Sells 1,593 Shares of Bristol-Myers Squibb (NYSE:BMY)

Legacy Private Trust Co. cut its position in Bristol-Myers Squibb (NYSE:BMY) by 14.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,441 shares of the biopharmaceutical company’s stock after selling 1,593 shares during the period. Legacy Private Trust Co.’s holdings in Bristol-Myers Squibb were worth $488,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Connectus Wealth LLC increased its position in Bristol-Myers Squibb by 22.8% in the 4th quarter. Connectus Wealth LLC now owns 25,779 shares of the biopharmaceutical company’s stock valued at $1,323,000 after acquiring an additional 4,791 shares during the period. Symmetry Investments LP acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $1,054,000. Wasatch Advisors LP raised its position in Bristol-Myers Squibb by 4.2% during the 4th quarter. Wasatch Advisors LP now owns 87,375 shares of the biopharmaceutical company’s stock worth $4,483,000 after purchasing an additional 3,500 shares during the last quarter. Ethic Inc. lifted its holdings in Bristol-Myers Squibb by 5.2% during the 4th quarter. Ethic Inc. now owns 184,859 shares of the biopharmaceutical company’s stock worth $9,485,000 after buying an additional 9,174 shares during the period. Finally, Jacobi Capital Management LLC grew its position in shares of Bristol-Myers Squibb by 0.8% in the 4th quarter. Jacobi Capital Management LLC now owns 44,784 shares of the biopharmaceutical company’s stock valued at $2,298,000 after buying an additional 339 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $52.48 on Wednesday. The business has a 50 day moving average of $49.43 and a 200-day moving average of $46.34. The firm has a market cap of $106.38 billion, a PE ratio of -16.93, a P/E/G ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.65. 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 released its earnings results 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 analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.75 EPS. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share 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. Stockholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. TD Cowen raised their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Barclays increased their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, BMO Capital Markets restated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $53.43.

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.