Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Searle & CO.

Searle & CO. lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,510 shares of the biopharmaceutical company’s stock after selling 9,836 shares during the period. Bristol-Myers Squibb accounts for approximately 1.1% of Searle & CO.’s investment portfolio, making the stock its 23rd biggest position. Searle & CO.’s holdings in Bristol-Myers Squibb were worth $4,373,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Global Assets Advisory LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth $5,161,000. Sunbelt Securities Inc. grew its position in shares of Bristol-Myers Squibb by 19.1% in the first quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock valued at $547,000 after purchasing an additional 1,614 shares in the last quarter. RMR Wealth Builders lifted its position in Bristol-Myers Squibb by 9.8% during the first quarter. RMR Wealth Builders now owns 5,805 shares of the biopharmaceutical company’s stock worth $315,000 after buying an additional 517 shares in the last quarter. Brookstone Capital Management grew its holdings in Bristol-Myers Squibb by 36.4% in the 1st quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock valued at $8,137,000 after buying an additional 40,018 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth $83,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BMY. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target on the stock. Barclays raised their price objective 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. Finally, TD Cowen increased 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, October 7th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $53.20.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded down $0.15 during trading hours on Wednesday, hitting $52.61. The company had a trading volume of 1,082,379 shares, compared to its average volume of 14,602,557. The business has a 50 day moving average of $50.53 and a 200-day moving average of $46.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.77. The company has a market cap of $106.65 billion, a PE ratio of -17.02, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The company’s revenue for the quarter 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 Dividend Announcement

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