Financial Counselors Inc. Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

Financial Counselors Inc. lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 139,898 shares of the biopharmaceutical company’s stock after selling 5,895 shares during the period. Financial Counselors Inc.’s holdings in Bristol-Myers Squibb were worth $5,810,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cravens & Co Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth approximately $243,000. Arlington Partners LLC grew its stake in shares of Bristol-Myers Squibb by 25.2% in the 2nd quarter. Arlington Partners LLC now owns 78,306 shares of the biopharmaceutical company’s stock worth $3,252,000 after buying an additional 15,773 shares during the last quarter. Equitable Trust Co. grew its stake in shares of Bristol-Myers Squibb by 1.5% in the 2nd quarter. Equitable Trust Co. now owns 24,056 shares of the biopharmaceutical company’s stock worth $999,000 after buying an additional 355 shares during the last quarter. Waterfront Wealth Inc. grew its stake in shares of Bristol-Myers Squibb by 18.5% in the 2nd quarter. Waterfront Wealth Inc. now owns 24,021 shares of the biopharmaceutical company’s stock worth $998,000 after buying an additional 3,743 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of Bristol-Myers Squibb by 9.9% in the 2nd quarter. D.A. Davidson & CO. now owns 415,115 shares of the biopharmaceutical company’s stock worth $17,240,000 after buying an additional 37,495 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $49.95 on Tuesday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.03. The stock’s fifty day moving average is $45.32 and its 200 day moving average is $46.56. The stock has a market cap of $101.25 billion, a P/E ratio of -16.11, a P/E/G ratio of 12.92 and a beta of 0.44. 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 (NYSE:BMY) last announced 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. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the firm earned $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 4.80%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BMY shares. Barclays upped their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. TD Cowen upped their price objective on 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 upped their price objective 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. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective 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. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.67.

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.