Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,355,746 shares of the biopharmaceutical company’s stock after selling 82,140 shares during the period. Principal Financial Group Inc.’s holdings in Bristol-Myers Squibb were worth $97,834,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Traynor Capital Management Inc. lifted its position in Bristol-Myers Squibb by 2.8% during the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 207 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Bristol-Myers Squibb by 12.8% during the first quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 216 shares in the last quarter. Bfsg LLC grew its stake in shares of Bristol-Myers Squibb by 24.4% during the first quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 220 shares during the last quarter. Paragon Capital Management LLC increased its holdings in shares of Bristol-Myers Squibb by 1.1% in the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after purchasing an additional 222 shares in the last quarter. Finally, OmniStar Financial Group Inc. raised its position in Bristol-Myers Squibb by 1.7% in the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 224 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Barclays raised their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. TD Cowen boosted their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. 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. Finally, Jefferies Financial Group upped their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $49.95 on Friday. The company has a fifty day moving average price of $45.01 and a 200 day moving average price of $46.59. The firm has a market cap of $101.25 billion, a PE ratio of -16.11, a PEG ratio of 12.51 and a beta of 0.44. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.03.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion during 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%. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. Research analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Friday, July 5th. 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.