UMB Bank n.a. Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

UMB Bank n.a. decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 11.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,862 shares of the biopharmaceutical company’s stock after selling 9,981 shares during the period. UMB Bank n.a.’s holdings in Bristol-Myers Squibb were worth $3,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Advocate Group LLC increased its stake in shares of Bristol-Myers Squibb by 2.1% during the third quarter. Advocate Group LLC now owns 137,241 shares of the biopharmaceutical company’s stock worth $7,101,000 after purchasing an additional 2,873 shares in the last quarter. Hyperion Partners LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $226,000. Perpetual Ltd increased its stake in shares of Bristol-Myers Squibb by 5.4% during the third quarter. Perpetual Ltd now owns 24,209 shares of the biopharmaceutical company’s stock worth $1,253,000 after purchasing an additional 1,243 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Bristol-Myers Squibb by 22.0% during the third quarter. Bruce G. Allen Investments LLC now owns 3,405 shares of the biopharmaceutical company’s stock worth $176,000 after purchasing an additional 614 shares in the last quarter. Finally, Enterprise Bank & Trust Co purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $212,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BMY. Jefferies Financial Group boosted their target price 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. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday. UBS Group boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $52.41 on Friday. The company’s 50-day moving average is $49.60 and its two-hundred day moving average is $46.39. 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 has a 1-year low of $39.35 and a 1-year high of $57.65. The firm has a market capitalization of $106.24 billion, a price-to-earnings ratio of -16.91, a PEG ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $1.75 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.58%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.