Tocqueville Asset Management L.P. lowered its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 742,609 shares of the biopharmaceutical company’s stock after selling 4,969 shares during the period. Tocqueville Asset Management L.P.’s holdings in Bristol-Myers Squibb were worth $40,041,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMY. WESPAC Advisors SoCal LLC boosted its position in shares of Bristol-Myers Squibb by 5.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,538 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 75 shares during the last quarter. First New York Securities LLC NY acquired a new position in Bristol-Myers Squibb during the third quarter valued at $108,000. State of Alaska Department of Revenue acquired a new position in Bristol-Myers Squibb during the third quarter valued at $109,000. Jolley Asset Management LLC boosted its position in Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 80 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol-Myers Squibb during the second quarter valued at $163,000. 68.84% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.18% on Wednesday, hitting $56.26. The stock had a trading volume of 1,189,800 shares. The company has a market cap of $94.02 billion, a P/E ratio of 28.14 and a beta of 0.90. The company has a 50-day moving average of $52.72 and a 200-day moving average of $62.87. Bristol-Myers Squibb Co. has a 52-week low of $49.03 and a 52-week high of $77.12.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.12. The company earned $4.83 billion during the quarter, compared to analyst estimates of $4.76 billion. Bristol-Myers Squibb had a return on equity of 28.98% and a net margin of 18.54%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. On average, equities analysts anticipate that Bristol-Myers Squibb Co. will post $2.85 EPS for the current fiscal year.

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Several brokerages have issued reports on BMY. Jefferies Group restated a “hold” rating and issued a $58.00 target price (up from $54.00) on shares of Bristol-Myers Squibb in a research note on Monday, October 31st. BMO Capital Markets restated a “market perform” rating and issued a $60.00 target price on shares of Bristol-Myers Squibb in a research note on Saturday, September 3rd. SunTrust Banks Inc. lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $86.00 to $68.00 in a research note on Friday, August 5th. Vetr lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $58.77 target price on the stock. in a research note on Monday, November 7th. Finally, Berenberg Bank lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and lowered their target price for the company from $80.00 to $70.00 in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $67.51.

In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares in the company, valued at $19,022,958.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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