Bristol-Myers Squibb (NYSE:BMY) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,084 shares of the biopharmaceutical company’s stock after selling 1,100 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Bristol-Myers Squibb were worth $522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lincoln National Corp lifted its holdings in shares of Bristol-Myers Squibb by 7.7% in the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,052 shares during the period. Chapin Davis Inc. boosted its stake in shares of Bristol-Myers Squibb by 22.6% during the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after acquiring an additional 4,159 shares in the last quarter. Accel Wealth Management increased its stake in shares of Bristol-Myers Squibb by 19.0% in the 1st quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 788 shares in the last quarter. Xponance Inc. raised its holdings in Bristol-Myers Squibb by 8.8% in the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after purchasing an additional 25,543 shares during the period. Finally, Plato Investment Management Ltd boosted its position in Bristol-Myers Squibb by 25.4% during the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after purchasing an additional 21,041 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $75.00 to $55.00 in a report on Friday. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $53.31.

Bristol-Myers Squibb Stock Down 1.9 %

BMY traded down $1.00 on Friday, reaching $51.92. The company’s stock had a trading volume of 7,127,425 shares, compared to its average volume of 14,553,149. The stock has a market cap of $105.25 billion, a price-to-earnings ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. 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 business’s 50 day moving average is $50.75 and its 200 day moving average is $46.41. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $55.29.

Bristol-Myers Squibb (NYSE:BMY) last released its 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. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 EPS. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.62%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.