Bristol-Myers Squibb (NYSE:BMY) Stock Position Trimmed by Auxier Asset Management

Auxier Asset Management decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 24,546 shares of the biopharmaceutical company’s stock after selling 624 shares during the period. Auxier Asset Management’s holdings in Bristol-Myers Squibb were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 42.7% during the second 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. MFA Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb in the second quarter worth about $39,000. Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $42,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays boosted their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Jefferies Financial Group lifted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $49.38 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The company has a market capitalization of $100.10 billion, a price-to-earnings ratio of -15.93, a P/E/G ratio of 12.59 and a beta of 0.46. The business’s 50-day moving average is $47.68 and its 200-day moving average is $46.49. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $59.46.

Bristol-Myers Squibb (NYSE:BMY) last released 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. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.86%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

About Bristol-Myers Squibb

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.