Bristol-Myers Squibb (NYSE:BMY) Shares Sold by LSV Asset Management

LSV Asset Management reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,280,905 shares of the biopharmaceutical company’s stock after selling 251,336 shares during the quarter. Bristol-Myers Squibb makes up approximately 0.8% of LSV Asset Management’s portfolio, making the stock its 28th biggest position. LSV Asset Management owned 0.41% of Bristol-Myers Squibb worth $343,906,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BMY. Gryphon Financial Partners LLC lifted its holdings in Bristol-Myers Squibb by 23.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock worth $280,000 after buying an additional 995 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $1,139,000. Versor Investments LP boosted its holdings in Bristol-Myers Squibb by 15.9% in the fourth quarter. Versor Investments LP now owns 13,600 shares of the biopharmaceutical company’s stock valued at $698,000 after purchasing an additional 1,870 shares during the period. Northwest Financial Advisors acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $27,000. Finally, Valley Wealth Managers Inc. increased its holdings in Bristol-Myers Squibb by 9.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 64,746 shares of the biopharmaceutical company’s stock worth $3,322,000 after purchasing an additional 5,779 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded down $1.10 during trading hours on Friday, hitting $48.70. 11,146,390 shares of the stock were exchanged, compared to its average volume of 15,309,394. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a market cap of $98.72 billion, a price-to-earnings ratio of -15.71, a price-to-earnings-growth 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 has a 50-day moving average of $45.95 and a 200 day moving average of $46.58.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the prior year, the business posted $1.75 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on BMY. Barclays upped their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. TD Cowen raised their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $54.67.

About Bristol-Myers Squibb

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.