Bristol Myers Squibb Company (NYSE:BMY) Stake Cut by Donoghue Forlines LLC

Donoghue Forlines LLC reduced its holdings in Bristol Myers Squibb Company (NYSE:BMYFree Report) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,328 shares of the biopharmaceutical company’s stock after selling 3,473 shares during the period. Donoghue Forlines LLC’s holdings in Bristol Myers Squibb were worth $1,484,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Marcum Wealth LLC increased its position in Bristol Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock worth $1,177,000 after purchasing an additional 193 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in Bristol Myers Squibb by 2.7% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock worth $492,000 after purchasing an additional 212 shares during the last quarter. 1858 Wealth Management LLC increased its position in Bristol Myers Squibb by 3.6% in the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock worth $392,000 after purchasing an additional 221 shares during the last quarter. Tompkins Financial Corp increased its position in Bristol Myers Squibb by 2.5% in the 1st quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company’s stock worth $558,000 after purchasing an additional 225 shares during the last quarter. Finally, LS Investment Advisors LLC increased its position in Bristol Myers Squibb by 1.3% in the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company’s stock worth $1,038,000 after purchasing an additional 225 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

BMY opened at $45.96 on Friday. The firm has a market capitalization of $93.55 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.32 and a beta of 0.36. The stock’s 50 day moving average price is $47.32 and its two-hundred day moving average price is $51.90. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMYGet Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the firm posted $2.07 EPS. The company’s revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a $0.62 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Upgrades and Downgrades

BMY has been the topic of several research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Citigroup lowered their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Argus raised Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Finally, UBS Group lowered their price objective on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.38.

Read Our Latest Research Report on Bristol Myers Squibb

Bristol Myers Squibb Profile

(Free Report)

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.

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

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