Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,717 shares of the biopharmaceutical company’s stock after selling 842 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Bristol-Myers Squibb were worth $348,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ESL Trust Services LLC purchased a new stake in Bristol-Myers Squibb during the first quarter valued at about $27,000. LGT Financial Advisors LLC increased its stake 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 acquiring an additional 227 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Bristol-Myers Squibb during the third quarter worth about $34,000. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at about $39,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at about $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 0.2 %

BMY traded down $0.13 during trading on Wednesday, reaching $52.63. 1,154,937 shares of the stock traded hands, compared to its average volume of 14,602,911. The stock has a market cap of $106.69 billion, a price-to-earnings ratio of -17.02, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.77. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The stock’s 50-day simple moving average is $50.53 and its two-hundred day simple moving average is $46.35.

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 the consensus estimate 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 company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period last year, the company earned $1.75 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.56%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BMY shares. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. TD Cowen increased their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on 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 analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.