New York State Teachers Retirement System Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

New York State Teachers Retirement System lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,836,334 shares of the biopharmaceutical company’s stock after selling 81,387 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Bristol-Myers Squibb worth $95,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter worth $34,000. MFA Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb during the second quarter valued at $39,000. Finally, Beach Investment Counsel Inc. PA bought a new position in Bristol-Myers Squibb in the 2nd quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BMY has been the subject of several recent analyst reports. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. Barclays increased their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. One analyst has 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, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $53.57.

Bristol-Myers Squibb Trading Up 0.2 %

NYSE BMY traded up $0.12 on Wednesday, hitting $52.62. The company’s stock had a trading volume of 925,730 shares, compared to its average volume of 14,428,837. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $55.03. The firm has a market cap of $106.67 billion, a P/E ratio of -16.94, a PEG ratio of 13.75 and a beta of 0.46. The company’s 50-day simple moving average is $50.89 and its 200 day simple moving average is $46.44.

Bristol-Myers Squibb Announces Dividend

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

Bristol-Myers Squibb Company 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.