Mount Yale Investment Advisors LLC Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

Mount Yale Investment Advisors LLC trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 66.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,598 shares of the biopharmaceutical company’s stock after selling 109,763 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at $27,000. LGT Financial Advisors LLC increased its position in shares of 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 purchasing an additional 227 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $34,000. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in Bristol-Myers Squibb during the 2nd quarter worth approximately $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMY has been the subject of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. UBS Group upped their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group raised their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $53.20.

Bristol-Myers Squibb Stock Down 0.3 %

Bristol-Myers Squibb stock opened at $52.92 on Friday. The stock’s 50 day moving average price is $50.63 and its 200 day moving average price is $46.39. 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 $107.27 billion, a PE ratio of -17.07, 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.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the prior year, the company posted $1.75 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.54%. Bristol-Myers Squibb’s payout ratio is currently -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.