Bristol-Myers Squibb (NYSE:BMY) Position Lessened by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 9.6% during the second quarter, HoldingsChannel.com reports. The firm owned 1,637,073 shares of the biopharmaceutical company’s stock after selling 174,212 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $67,988,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Northwest Financial Advisors acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $27,000. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth $27,000. LGT Financial Advisors LLC raised its holdings in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $39,000. Finally, Fairman Group LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. TD Cowen lifted their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Barclays lifted their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $54.67.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded down $1.10 on Friday, reaching $48.70. 11,146,390 shares of the stock traded hands, compared to its average volume of 15,309,394. The firm has a market cap of $98.72 billion, a price-to-earnings ratio of -15.71, a P/E/G ratio of 12.92 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.42. The stock’s 50-day moving average price is $45.95 and its 200-day moving average price is $46.60. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

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 analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 earnings per share. Equities analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Bristol-Myers Squibb 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.