Ferguson Wellman Capital Management Inc. Sells 2,641 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ferguson Wellman Capital Management Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 4.6% during the third quarter, HoldingsChannel.com reports. The fund owned 54,643 shares of the biopharmaceutical company’s stock after selling 2,641 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,827,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BMY. Traynor Capital Management Inc. grew its stake in Bristol-Myers Squibb by 2.8% in the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 207 shares during the period. Paragon Capital Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 1.1% in the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after buying an additional 222 shares during the last quarter. OmniStar Financial Group Inc. grew its position in Bristol-Myers Squibb by 1.7% during the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after buying an additional 224 shares during the period. LGT Financial Advisors LLC increased 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 worth $32,000 after buying an additional 227 shares during the last quarter. Finally, Bell Investment Advisors Inc raised its position in Bristol-Myers Squibb by 18.1% in the first quarter. Bell Investment Advisors Inc now owns 1,537 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 236 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $0.04 during trading on Friday, hitting $53.22. The company had a trading volume of 7,184,496 shares, compared to its average volume of 14,752,302. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $57.09. The stock has a market capitalization of $107.88 billion, a price-to-earnings ratio of -17.17, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. 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 stock’s 50-day moving average is $50.36 and its two-hundred day moving average is $46.42.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.51%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BMY shares. Jefferies Financial Group raised their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.20.

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.