Country Club Bank Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Country Club Bank cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 84.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,521 shares of the biopharmaceutical company’s stock after selling 30,948 shares during the period. Country Club Bank’s holdings in Bristol-Myers Squibb were worth $281,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $34,000. MFA Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Citigroup cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $75.00 to $55.00 in a research note on Friday. Barclays lifted 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, October 7th. 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. UBS Group lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.31.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $51.92 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $105.25 billion, a price-to-earnings ratio of -16.75, a PEG ratio of 13.75 and a beta of 0.46. The firm’s fifty day simple moving average is $50.75 and its 200 day simple moving average is $46.41. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $55.29.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.75 EPS. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend 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.