Rational Advisors LLC lowered its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 39.9% during the third quarter, Holdings Channel reports. The fund owned 19,906 shares of the biopharmaceutical company’s stock after selling 13,234 shares during the quarter. Rational Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BMY. CSat Investment Advisory L.P. acquired a new stake in Bristol-Myers Squibb during the second quarter worth approximately $113,000. Cypress Capital Management LLC WY boosted 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 worth $119,000 after acquiring an additional 1,160 shares during the last quarter. Landaas & Co. WI ADV acquired a new stake in Bristol-Myers Squibb during the second quarter worth approximately $131,000. Selective Wealth Management acquired a new stake in Bristol-Myers Squibb during the third quarter worth approximately $184,000. Finally, LFA Lugano Financial Advisors SA boosted 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 worth $199,000 after acquiring an additional 1,481 shares during the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.

Shares of BMY opened at $53.91 on Monday. The firm has a market capitalization of $88.25 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 1.51 and a beta of 1.08. Bristol-Myers Squibb Co has a fifty-two week low of $46.94 and a fifty-two week 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 announced its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.18. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. Sell-side analysts forecast that Bristol-Myers Squibb Co will post 3.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Friday, October 5th were issued a $0.40 dividend. The ex-dividend date was Thursday, October 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.97%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 53.16%.

BMY has been the topic of a number of analyst reports. Barclays raised their target price on shares of Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 12th. Morgan Stanley decreased their target price on shares of Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating on the stock in a research report on Tuesday, November 6th. Credit Suisse Group set a $61.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Sunday, October 14th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Friday, October 5th. Finally, ValuEngine lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $61.84.

TRADEMARK VIOLATION NOTICE: “Rational Advisors LLC Has $1.24 Million Position in Bristol-Myers Squibb Co (BMY)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2018/11/19/rational-advisors-llc-has-1-24-million-position-in-bristol-myers-squibb-co-bmy.html.

About Bristol-Myers Squibb

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.

Featured Article: What are the benefits of a balanced fund?

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).

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

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.