Bessemer Group Inc. reduced its position in Bristol-Myers Squibb Co (NYSE:BMY) by 3.6% in the third quarter, HoldingsChannel.com reports. The fund owned 48,454 shares of the biopharmaceutical company’s stock after selling 1,817 shares during the quarter. Bessemer Group Inc.’s holdings in Bristol-Myers Squibb were worth $3,008,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BMY. CSat Investment Advisory L.P. bought a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $113,000. Cypress Capital Management LLC WY lifted its position in Bristol-Myers Squibb by 154.7% during the third quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 1,160 shares during the last quarter. Landaas & Co. WI ADV bought a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $131,000. Selective Wealth Management bought a new stake in Bristol-Myers Squibb during the third quarter valued at approximately $184,000. Finally, LFA Lugano Financial Advisors SA lifted its position in Bristol-Myers Squibb by 85.8% during the third quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock valued at $199,000 after purchasing an additional 1,481 shares during the last quarter. Institutional investors own 72.60% of the company’s stock.

BMY stock opened at $53.27 on Friday. The company has a market cap of $86.26 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.08. Bristol-Myers Squibb Co has a one year low of $46.94 and a one year high of $70.05. The company has a current ratio of 1.53, a quick ratio of 1.40 and a debt-to-equity ratio of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.91 by $0.18. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. The company had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.72 billion. On average, analysts anticipate that Bristol-Myers Squibb Co will post 3.88 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Friday, October 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Thursday, October 4th. Bristol-Myers Squibb’s payout ratio is 53.16%.

Several brokerages have issued reports on BMY. BMO Capital Markets reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Friday. Atlantic Securities raised shares of Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 price target on the stock in a research note on Wednesday, August 8th. Barclays lifted their price target on shares of Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, October 12th. Credit Suisse Group reissued a “hold” rating and set a $61.00 price target on shares of Bristol-Myers Squibb in a research note on Wednesday, September 12th. Finally, William Blair reissued an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, October 22nd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.62.

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Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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

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