Burns J W & Co. Inc. NY Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Burns J W & Co. Inc. NY reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,464 shares of the biopharmaceutical company’s stock after selling 2,114 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Bristol-Myers Squibb were worth $1,731,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BMY. 1832 Asset Management L.P. lifted its position in shares of Bristol-Myers Squibb by 27.3% during the 4th quarter. 1832 Asset Management L.P. now owns 74,711 shares of the biopharmaceutical company’s stock worth $3,833,000 after purchasing an additional 16,005 shares during the last quarter. Morningstar Investment Services LLC boosted its holdings in shares of Bristol-Myers Squibb by 66.9% in the fourth quarter. Morningstar Investment Services LLC now owns 13,100 shares of the biopharmaceutical company’s stock valued at $671,000 after acquiring an additional 5,251 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Bristol-Myers Squibb by 10.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,030,177 shares of the biopharmaceutical company’s stock valued at $52,858,000 after acquiring an additional 96,193 shares in the last quarter. AdvisorShares Investments LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $446,000. Finally, Schroder Investment Management Group boosted its holdings in Bristol-Myers Squibb by 25.2% during the fourth quarter. Schroder Investment Management Group now owns 3,465,916 shares of the biopharmaceutical company’s stock worth $177,836,000 after buying an additional 697,388 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Barclays upped their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Trading Up 0.7 %

BMY stock traded up $0.36 on Friday, hitting $53.96. 12,831,885 shares of the company were exchanged, compared to its average volume of 15,080,382. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $57.65. 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 business’s fifty day moving average is $49.34 and its two-hundred day moving average is $46.40. The stock has a market capitalization of $109.38 billion, a price-to-earnings ratio of -17.40, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the prior year, the business posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.45%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

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.